EV sales boom in China but stagnate in the US and Europe due to cost and infrastructure concerns.

Electric vehicle (EV) sales are soaring in China, thanks to government support, but are stalling in the US and Europe due to higher costs and concerns about range and charging infrastructure. In the US, the average new EV costs $56,902, still above the average new car price. Sales have slowed in Europe, with Germany's EV sales plummeting after subsidies were canceled. The International Energy Agency predicts 17 million electrified vehicles will be sold this year, but not fast enough to meet climate goals.

November 26, 2024
47 Articles