They say profit margins from combustion vehicles will rise for a few years until a widespread consumer shift toward electric vehicles.
Fleets that can't access commercial EVs from legacy automakers say they're turning to foreign manufacturers.
Consumers financed more than 91,000 used electric vehicles (EVs) in 2022, up 45% from 2021, according to Experian data.
According to EV-Volumes data, from Jose Pontes, five OEMs handled more than half of all EV sales.
Toyota Motor Corp’s next chief executive, Koji Sato, is calling for an “EV-first mindset” for the Japanese automaker.
It’s time to create an environment and culture that welcomes the inherent fears and curiosities of EV buyers, and those who aren’t EV buyers-yet.
U.S. electric vehicle purchases climbed to 5.8% of all vehicles sold in 2022, up from 3.2% in 2021, according to Motor Intelligence.
The Detroit automaker sold 1.86 million vehicles in 2022, down from 1.91 million in 2021.
The new facility will employ 1,500 people and produce enough cathode and anodes components to supply 1 million EVs annually.
The automaker plans to adjust its electric vehicle strategy and provide it to key suppliers early next year, report people close to the project.
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