Ryan Felton and Christina Rogers of The Wall Street Journal are reporting a bumpy start for what was supposed to be a big year for electric vehicles. They write:
The auto industry’s pivot to electric vehicles has been rocked by setbacks in the first weeks of 2024, creating more uncertainty as a flood of new battery-powered models is hitting showrooms.
The latest bad news came Wednesday when Tesla—the world’s most valuable automaker—warned of notably lower growth this year and left investors with few answers on how it will slow its profit-margin erosion.
The downbeat remarks followed data earlier this year showing a slowdown in EV sales growth in the U.S., automakers delaying or cutting back on plans and anxiety rising among dealership owners. […]
“Mr. President, we share your belief in an electric vehicle future,” the latest letter says. “We only ask that you not accelerate into that future before the road is ready.”
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