Major automakers are scaling back ambitious plans for electric vehicle (EV) transitions, citing limited consumer demand. However, the true reason is likely financial losses associated with EVs. This reluctance to embrace EVs ignores the substantial benefits they offer, such as clean air, energy security, and lower transportation costs. The automotive industry's hesitation is hindering progress toward a sustainable future.
This year it has become a trend for major automakers to announce a retreat from ambitious plans to transition to electric vehicles . While publiclythe decision is due to limited consumer demand, the reality is that profitability deficits press on upper automotive management. Such reluctance to embrace EVs is a tremendous loss, as internal combustion engine vehicles cannot deliver the benefits of EVs like clean air, energy security, and lower cost transportation.
Unfortunately, profitability has taken priority in the short term, and continued reliance on ICEVs burdens the global quest to achieve net zero emission benchmarks by 2030 and 2050. EVs of all kinds are going to replace ICEVs — school and transit buses, delivery vans, garbage trucks, and freight trucks. Battery electric transportation and transit is the future, and it is now.Wrong.
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