The U.S. Puts the Brakes on Electric Vehicle Rollout

8 hour ago / Read about 0 minute

Author：小编

American automakers are strategically scaling back their operations in the electric vehicle (EV) sector, which has raised concerns about a potential survival crisis for the U.S. automotive industry. In contrast, Chinese automakers are making rapid strides in this technological realm. This past Friday, Stellantis Group revealed that, as a result of a large-scale business restructuring plan (which involves downsizing its EV business), the company has incurred an impairment loss of US$26 billion. This financial setback has caused its stock price to nosedive by over 20%. The group's CEO, Antonio Filosa, attributed these losses to an overestimation of the pace of the energy transition.

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