Masahiro Moro told Fortune that consumers are still not sold on electric vehicles, with EVs making up just a fraction of the US market and cars piling up in dealerships as demand slows.
“EV is absolutely important technology, and we are developing it. But [in the US] EVs last year [were] about 6% of the market. This year it is 8%. And out of that 8%, 57% was Tesla. Other EVs are not taking off, inventory is piling up,” he said.
Tesla continues to dominate the US EV market. While Elon Musk’s company has cut prices multiple times in the past year in the face of competition from legacy automakers, it still commands over half the market, with experts estimating that it will take a decade for rivals to catch up.
Source: BI
