Following years of investment in electric vehicles EV from major automakers and innovative new startups, over the last year, sales have faltered, causing many industry players to reassess their previously optimistic forecasts. Many big manufacturers have scaled back operations for fear of an oversupply of EVs before demand for environmentally friendly vehicles increases sufficiently. However, U.S.
However, earlier this year it became apparent that the Biden administration intended to relax limits on exhaust pipe emissions to give automakers more time to develop their EV offerings. This could severely affect EV sales forecasts, delaying a major rise in uptake to after 2030. The CEO of the auto industry trade group the Alliance for Automotive Innovation AAI, John Bozzella, believes the next three or four years are critical for the development of the EV market.