Automakers Reevaluate EV Strategies Amid Market Challenges

Toyota, Volvo, and others adjust electric vehicle plans due to shifting demand, infrastructure issues, and competitive pressures.

Toyota reduces 2026 EV production goals by 30%, citing uneven global sales.
Japan pledges $2.4 billion in subsidies to strengthen its battery supply chain.
Volvo abandons plans for an all-electric lineup by 2030, opting for a mix of EVs and hybrids.
South Korea mandates transparency in EV battery manufacturing after safety concerns.
German automakers struggle with declining demand and increased competition from China.