Is the EV Revolution Dead?
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Automakers are hedging their bets on electric vehicles and stepping up their investment in hybrid cars as consumers’ growing disinterest in fully electric vehicles has forced the industry to shift gear.
A combination of high EV depreciation and concern over inadequate charging infrastructure has chilled buyers’ enthusiasm for fully electric cars, prompting a rebound in sales of hybrid vehicles that many automakers had ignored.
Volvo scrapped its target of going all electric by 2030 last week, saying it now expected to still be offering some hybrid models in its lineup at that time.
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