Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeCommoditiesEnergyElectric VehiclesElectric vehicle outlook sinks after U.S. withdraws policy supportTariffs imposed by Donald Trump and rising global trade barriers also hurt automakers’ ability to sell EVs competitivelyAuthor of the article: You can save this article by registering for free here. Or sign-in if you have an account.Softer U.S. demand will weigh on global adoption, with sales of electric passenger vehicles only reaching 35.6 million by 2030. Photo by Jonathan NACKSTRAND/AFP via Getty ImagesThe outlook for electric vehicle demand has been cut for the second year in a row after the United States government pulled back policies supporting EV adoption, according to BloombergNEF.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorEVs are now expected to account for 17 per cent of U.S. passenger vehicle sales in 2030, according to BloombergNEF’s latest outlook for battery-powered vehicles. That’s down from an estimated 27 per cent in last year’s forecast and far below 2024’s projection of 48 per cent.Softer U.S. demand will weigh on global adoption, with sales of electric passenger vehicles reaching 35.6 million by 2030, BloombergNEF said, about 3.4 million fewer than last year’s forecast.The outlook reflects the fallout from the Trump administration and Republican lawmakers all but eliminating U.S. government support for EV adoption by consumers. Under Trump, policymakers have moved to significantly weaken fuel-efficiency standards, revoke California’s EV sales mandate and eliminated a US$7,500 federal tax credit for EVs. Electric vehicles at a dealership in California.Tariffs imposed by President Donald Trump and rising global trade barriers also hurt automakers’ ability to sell EVs competitively in the U.S., said Andrew Grant, head of intelligent mobility at BloombergNEF and a coauthor of the report.“We did go in with kind of an expectation that the U.S. might not be living up to the type of outlook that we’ve had in previous years,” Grant said.Automakers have responded by dramatically curtailing ambitions EV plans, with production of at least 27 existing and future models being reduced, cancelled or delayed in the last year, according to BloombergNEF. Automakers such as Stellantis NV, Ford Motor Co., General Motors Co. and Honda Motor Co. have recently incurred about US$64 billion in EV-related losses, the report said.And although China continues to dominate, with the country accounting for around 62 per cent of EVs sold globally this year, growth is also expected to slow largely due to changes in subsidy programs. EV sales are projected to increase 10 per cent in China this year, less than the 16 per cent gain seen in 2025 and the 39 per cent jump in 2024, according to the report.—With assistance from Craig Trudell. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.