Volkswagen is the latest automaker to back off on its EV roll-out. The automaker told Headlight.News that “due to the ongoing challenging EV market” it has scrapped plans to introduce the ID.7 sedan to the U.S. market – though it will continue to be offered in Europe, China and a number of other markets.
The Chrysler brand reportedly has halted work on a midsize electric crossover based on the Airflow concept vehicle. The move comes late in development as the EV was to have reached market later this year. The decision echoes one made by rival Ford which has also responded to slowing growth in the EV market by killing off a planned 3-row crossover.
Conventional wisdom might seem to suggest that EVs have come unplugged, with traditional automakers such as Ford Motor Co. and Volkswagen AG pulling back on their plans to go all-electric. But don’t tell that to the folks in Norway. As contributing editor Joe Szczesny discovered during a visit this week, you’ll have to look hard to find a new vehicle drawing power from a tank of gasoline.
Struggling battery-electric start-up Lucid Group will cut 400 jobs as it tries to slash mounting financial woes. It’s far from the only EV manufacturer responding to slowing sales growth by trimming its workforce, however. And still more cuts are expected to follow in the months ahead.
Aston Martin is following the lead of manufacturers including Ford, General Motors and Volkswagen, responding to slowing growth in the EV market by delaying the launch of its first all-electric model by at least a year. Find out more at Headlight.News.
Rivian announced it will slash both its corporate staff and production this year after reporting more than $1.5 billion in losses for the final three months of 2023. Even as it prepares to unveil an entirely new family of battery-electric vehicles, CEO RJ Scaringe warned the nascent automaker “is not immune” to the headwinds battering the U.S. EV market after four years of record growth. Separately, EV startup Lucid also forecast flattening sales after reporting worsening losses.
Facing slowing sales growth — and pressure from automakers and their dealers — the Environmental Protection Agency may delay proposed emissions rules that would require EVs to account for as much as two-thirds of the new vehicles sold in the U.S. by 2032. The move would provide more time to address issues blamed for slowing adoption, including the high cost of EVs, as well as the lack of a robust public charging network.