EV Announcements Have Dried Up Enormously, Even Tesla’s — The Trump Slump Is Real
AI-summarised brief · reviewed before publication
The electric vehicle (EV) market in the United States has seen a significant decline in announcements and promotions, particularly from legacy automakers and even Tesla. This trend, dubbed the "Trump Slump," is attributed to the hostile stance of the current administration towards EVs and cleantech. Automakers have cancelled billions of dollars in EV investments and are selling fewer EVs, leading to a decrease in product launches, updates, and positive stories about the industry.
💡 Why It Matters
- · Further investments may dry up for the EV industry.
- · US may lag behind China, which has EV friendly policies and is pumping out new EVs at competitive pricing.
- · As the world shifts towards cleaner energy sources, the US lagging behind could have long-term consequences for the country's environmental and economic development.