Automakers are slowing down EV production plans and warning they see slower sales ahead.
electric car mandate
In Germany, EV sales are in freefall as the cash-strapped government tapers off subsidies.
In Canada, only 6.5 per cent of the 1.5 million new vehicles sold in 2022 were electric.
A shortage of metals could trigger dramatic losses throughout the entire EV supply chain.
Most EV buyers in Canada have had incomes well above the average.
Electric vehicles have consistently failed to compete with combustion vehicles on performance and cost.
Sales of electric vehicles and hybrids remain relatively small within the scope of total vehicle sales.
Electric vehicles consume huge quantities of materials and their prices are trending up, not down.
From 2015 to 2022, Canada’s population increased by 3.3 million compared to only 1.6 million housing completions.