Consumer Anxiety and Infrastructure Limitations Hinder EV Adoption ...Middle East

Following years of investment in electric vehicles (EV) from major automakers and innovative new startups, over the last year, sales have faltered, causing many industry players to reassess their previously optimistic forecasts. Many big manufacturers have scaled back operations for fear of an oversupply of EVs before demand for environmentally friendly vehicles increases sufficiently. However, U.S. Treasury Secretary Janet Yellen recently stated that the Biden administration’s Inflation Reduction Act (IRA) has created a “boom”…

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