Affordable EVs offer lifeline for automakers amid market slowdown
As many global automakers roll back on their EV strategies in the face of an industry slowdown, the global market is showing a strong preference for affordable EVs over more expensive models.
After the end of the US federal subsidy and the Trump administration’s reversal of EV-friendly legislation, many automakers are suffering heavy losses as the market pivots away from pure EVs and back to hybrid and ICE vehicles.
Yet, in spite of this trend, cheaper EV models have proven to be a lifeline for automakers placing their bets on electric vehicles.
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