Talk about an inconvenient truth. After months of trying to explain away the gathering clouds over the electric-vehicle sector as the usual growing pains of an emerging market, the EV faithful swallowed a bitter pill this week when Tesla finally blinked.
The market and spiritual leader of EVs said it will lay off more than 10 per cent of its work force, more than 14,000 people, because of slowing global demand. The company’s deliveries have dropped for the first time in four years, and unsold inventory has swelled to almost 50,000 vehicles.
More … Tesla recalls Cybertrucks as faulty accelerator pedals blamed on soap
