Toyota Chairman: EV Growth Slowing as High Rates and Tesla Struggles Temper Industry Optimism

Toyota's chairman says the EV hype train is hitting reality as Tesla stock drops amid slowing EV adoption.

High interest rates are dampening customer demand for EVs, slowing the growth rate of EV sales.

Tesla just posted its lowest quarterly earnings per share in 2 years, causing its stock to plunge.

Other automakers like Ford and GM are also slowing down their EV production timelines.

This is just a blip and "growing pains" as the auto industry inevitably transitions to EVs, according to analysts.