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EV Sales are Surging, so Why Are Automakers Planning Layoffs?

·3 min read
EV Sales are Surging, so Why Are Automakers Planning Layoffs?
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While electric vehicles are enjoying an unprecedented surge in popularity, ongoing supply chain problems, and growing recession fears are beginning to hit the automotive industry. EV sales rose 65% in Europe last year and doubled in the United States. The popularity of electric vehicles has increased during the past two years as more automakers have launched additional options for sedans, SUVs and pickup trucks, but obstacles remain as the global economy slows down amid higher inflation and interest rates.