Troubling news for the electric vehicle market emerged from Europe on Tuesday. The first was the collapse of Porsche Taycan prices, and second, a battery plant owned by Stellantis and Mercedes-Benz halted development. All of this signifies sliding EV demand across the EU.
Sliding EV demand has also forced European auto battery manufacturer ACC, co-owned by Stellantis, Mercedes, and TotalEnergies, 'to pause development of a site in Germany's Kaiserslautern,' according to Bloomberg, citing local media outlet Rheinpfalz newspaper. 'Europe's drivers aren't ready in large numbers to exchange their old car for a new electric one,' ACC's General Secretary Mathieu Hubert told Rheinpfalz.
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