End of EV euphoria triggers $65bn hit for carmakers
Manufacturers rethink US strategy in pivot back to petrol and hybrids
Manufacturers rethink US strategy in pivot back to petrol and hybrids

Benefits of EU’s proposed rule changes are limited and too costly, say industry executives

Detroit-based carmaker says it ‘proactively reduced EV capacity’

Sales reached record high last year despite fall at Tesla and pressure to soften EU targets

Retooling of factories comes as cell makers have cancelled enough capacity to produce 2mn electric cars

As US carmakers gain political cover to delay EV development, Asian companies can expand at greater scale

Americans are buying second-hand electric vehicles even as the market for new vehicles slumps