Reported 2 days ago
The electric vehicle (EV) industry is facing significant financial challenges due to the expiration of the $7,500 federal tax credit, necessitating automakers like General Motors and Ford to offer substantial incentives to stimulate sales. With average EV prices remaining high, these incentives are eating into profits, leading to concerns about the future viability of some EV firms. As a response, GM plans to reintroduce the Chevrolet Bolt at a competitive price, which may help alleviate some of the financial strain on the market, although the long-term outlook for EV investments remains uncertain.
Source: YAHOO