EV ‘Mania’ May Be ‘Over,’ Production Estimates and Executive Enthusiasm Wane as Sustainability Questioned – by Naveen Athrappully (The Epoch Times – January 22, 2023)


Electric vehicle (EV) “mania” might be at an end, or, at a minimum, easing down, according to research, as concerns about supply chains, lithium sourcing, inflation, and more affect production capacities while customer demand decelerates globally, as evidenced by industry leader Tesla cutting prices in order to increase sales.

In Europe, EV car manufacturers are slowing production due to uncertainties around lithium supply for batteries as well as electric vehicles proving to be expensive for the middle class, according to a Jan. 18 Institute for Energy Research (IER) post.

This year, Europe is expected to output 12 million cars, which is a million less than earlier estimates. The average price of an EV in Europe during the first half of 2022 was 55,821 euros, up by over 14 percent from 48,942 euros in 2015, according to a report by automotive market research firm JATO.

An EV in Europe is 27 percent more expensive than a gasoline car. These factors raise an affordability challenge for the sector in a region where EV-adoption is generally more accepted than in North America.

For the rest of this article: https://www.theepochtimes.com/ev-mania-may-be-over-production-estimates-and-executive-enthusiasm-wane-as-sustainability-questioned_5001027.html