Tesla unveiled lower-cost versions of its most popular models in order to boost flagging sales in the face of Chinese dominance in the global EV sector.
The end of US subsidies has hit the industry, and carmakers around the world are “falling back in love with petrol,” the Financial Times reported.
Ford, General Motors, and Honda are all betting on a longer future for internal combustion engines, while calls are growing for an EU ban on petrol by 2035 to be relaxed. Only China continues to go all-in on electric cars, raising fears that the West could fall behind: Tesla’s moves left investors underwhelmed.
