After racing to meet surging demand for EVs just six months ago, carmakers are now slamming the brakes and significantly cutting their plants' output.
Is it an overcorrection triggered by a COVID-era supply shortage? Or are consumers simply far more discerning, especially when it comes to paying a premium, than initially thought?, it's likely a mix of a number of factors — but one thing's for sure: it's a rude wakeup call for the EV industry." growth during last month's fourth-quarter earnings call, which fell well short of expectations and left a dent in the carmaker's share value.
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