Electric Vehicles Have a Problem

Has Toyota Been Right All Along?

Technality
Tech Topics

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Photo by Hyundai Motor Group on Unsplash

Electric vehicles are expected to take the world by storm. Europe is anticipating the takeover will be in full swing by 2030, while the U.S. has a similarly-ambitious plan of banning combustion engines by 2035. But there’s a problem: they aren’t really selling.

Sure, Tesla is seeing higher sales figures than ever before, but legacy automakers can’t say they’ve seen the same success. Take the Ford’s Mustang Mach-E, for instance. Despite historically being the best-selling non-Tesla EV, demand has seemingly capped out at ~40,000 units per year, despite the company recently increasing the model’s yearly production capacity to 210,000.

The similarly-popular Hyundai IONIQ 5 has also struggled to find success, as it’s not even on track to break 30,000 units this year.

Add to these bleak sales figures the fact that supply chain shortages are no longer to blame, and it seems as though EVs might not be on track to deliver the transportation revolution the U.S. had been expecting.

The Argument For Waiting to Hop on the EV Bandwagon

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Technality
Tech Topics

A young, aspiring writer intrigued by the world - Loves to ramble on about technology. Get notified whenever I publish: https://technality.medium.com/subscribe