EV Demand Rises, Exposes Industry Challenges and Opportunities

July 20, 2022 09:43:34

As the world strives to move away from fossil fuels, electric vehicles have emerged as a solution to reducing carbon emissions from transportation. But one major challenge to electric vehicle adoption is that they are too expensive for the average consumer. With the cost of living rising exponentially in the past few months, and automakers increasing the costs of their EVs, you would think that EV adoption would slow down even further as people saved their dollars.

However, data shows that consumers are turning to electric vehicles in record numbers despite prevailing economic conditions, rising EV prices and…

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