Suffice to say, all is not well for the Electric Vehicle (EV) industry these days. Despite ample subsidies from the federal government, EV sales are slumping.
Some of the largest automakers, such as Mercedes Benz, admit they won’t come close to hitting their EV sales estimates over the next few years. And Tesla, the king of EVs, just announced its lowest quarterly profit over the past two years. After the Tesla news broke, the company’s shares cratered, leading to a $138 billion decline in value.
