Tesla attributes declining EV sales to the popularity of hybrids, stating that inexpensive hybrid cars are drawing green-car shoppers away from electric vehicles (EVs).
In its first-quarter earnings presentation, Tesla expressed concern over the industry’s focus on partially battery-powered vehicles, which is impacting global EV sales and Tesla’s own sales.
Major automakers like GM are shifting towards hybrids, while Tesla, solely focused on EVs, faces challenges attracting frugal and practical consumers who prefer hybrids.
News Credit: Fossbytes
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