CleanTechnica•about 2 months ago
US EV Market Down 27%, Worst 1st Quarter Since 2022
- •The US EV market experienced a significant 27% decline in Q1, marking its worst performance since 2022.
- •This market downturn is directly attributed to policy shifts, specifically the removal of the $7,500 EV tax credit by the current administration, reversing previous incentives.
- •A slowdown in EV adoption could lead to revised long-term electricity demand forecasts, impacting developers of charging infrastructure and utilities planning for future load growth.
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