EV Makers Brace For Another Tough Year

Electric vehicle (EV) makers are facing a conundrum due to the uncertain outlook of the EV market in 2023. On the one hand, governments worldwide are pushing for a transition to green, with plans to roll out bans on the sale of new fossil fuel-powered cars across several cities within the next decade, which is encouraging more consumers to switch to EVs. On the other, the current uncertain geopolitical and energy outlook has sent much of the world into a recession, with soaring inflation and concerns about energy security, meaning that many consumers…