The World Puts EVs In Reverse

In January, when the Trump Administration reduced electric vehicle subsidies, environmentalists confidently asserted that the rest of the world would reject such an approach. Now, nine months later, it seems everyone is following his lead.

  • In Canada, Prime Minister Mark Carney paused an electric-vehicle sales mandate due to kick in next year.
  • In Great Britain, Prime Minister Keir Starmer has weakened his government’s  timetable for the adoption of EVs.
  • The European Union is on the verge of rolling back its 2035 target for eliminating carbon-dioxide emissions.

“Automakers have been saying that consumers aren’t adopting EVs as quickly as expected, and government efforts to proliferate the technology are hammering their bottom lines,” explains the Wall Street Journal. It quotes an expert at the consulting firm McKinsey as concluding that “EVs aren’t smartphones.”

You can say that again.

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