After about fourteen years of being on the market, battery electric vehicles (BEV) are beginning to show signs of wear on the US consumer with demand for BEVs experiencing a precipitous decline. Anxiety over the price tag, limited range and charging are the main reasons.
Due to reduced demand and elevated costs, auto manufacturers are pulling back on BEV production in favor of other technologies that reduce carbon emissions.
Here is an interesting statistic from Toyota: “The amount of materials we need for one electric-vehicle battery, we could build 90 hybrid batteries.”