Electric vehicles are expected to take the world by storm. Europe is anticipating the takeover will be in full swing by 2030, while the U.S. has a similarly-ambitious plan of banning combustion engines by 2035. But there’s a problem: they aren’t really selling.
Sure, Tesla is seeing higher sales figures than ever before, but legacy automakers can’t say they’ve seen the same success. Take the Ford’s Mustang Mach-E, for instance. Despite historically being the best-selling non-Tesla EV, demand has seemingly capped out at ~40,000 units per year, despite the company recently increasing the model’s yearly production capacity to 210,000.