Global Divide Emerges in Electric Vehicle Adoption, Putting Pressure on Automakers
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Electric vehicle adoption is advancing rapidly in China and Europe, but lagging in the US, India, and Japan.
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This bifurcation means automakers must manage high costs of developing both electric and gasoline vehicles.
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Transitioning to EVs requires massive investments in retooling factories and vehicle engineering.
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Delaying EV transitions, as in the UK, creates uncertainty and supply chain challenges for automakers.
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Until EVs reach price parity globally, automakers face years of lower margins and competing investment priorities.