The electric vehicle market is facing challenges as global sales forecasts for 2030 have been revised downward by 20% over the past year, according to our Endpoints & IoT, Mobility – Connected Hybrid & Electric Cars 2024 survey, which highlights the high prices, manufacturing costs, supply chain shortages, infrastructure and legislation that are likely contributing to this shift. With EV targets now extended to 2035, automakers are under pressure to lower prices, and so are their suppliers.
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