EV Sales Accelerate But Hurdles Remain on Long Road to Mass Adoption
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EV sales in the US grew 40% in 2022 to nearly 1.2 million vehicles. Market share grew to 7.6%, up from 5.9% a year earlier.
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However, automakers like Ford and GM have cut EV production targets, citing slower than expected growth.
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Hurdles remain, like high costs, lack of charging infrastructure, and political opposition in some states.
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But experts say the market will grow steadily if expectations are properly set. It's a large, slow-moving industry.
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With billions invested already, EVs are likely "too big to fail" long-term, though the road ahead still has challenges.