The Future of Electric Vehicles: Slowing Demand Raises Concerns
Electric vehicles (EVs) have been hailed as the future of the automotive industry, promising a cleaner and more sustainable mode of transportation. However, recent developments in the market have raised concerns about the slowing demand for EVs. High interest rates, global economic uncertainty, and falling raw material prices are all contributing factors to this shift in the industry. As automakers and regulators grapple with these challenges, the future of electric vehicles hangs in the balance.Slowing Demand and Altered PlansDespite the overall growth of EV sales, the demand is not meeting the expectations of carmakers and investors. Lee Chang-sil, the CFO of South Korean battery maker LG Energy Solution, has warned that EV demand in the coming year could be lower than a...