EV demand slowdown hits automakers, suppliers

BYD Dolphin front 2023 — EV demand in Europe has weakened and the region's automakers face competition from Chinese rivals such as BYD. The BYD Dolphin is pictured.

R

By:

Reuters

January 31, 2024 01:15 PM

While automakers and suppliers are betting big on future demand for electric vehicles, a near-term global slowdown is causing pain, including bankruptcies, scrapped initial public offerings and production cuts.

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