Porsche Taycan values plunge, reflecting declining demand for electric vehicles in Europe, as battery factory development is paused, and Tesla reports slowing sales growth.
Troubling news for the electric vehicle market emerged from Europe on Tuesday. The first was the collapse of Porsche Taycan prices, and second, a battery plant owned by Stellantis and Mercedes-Benz halted development. All of this signifies sliding EV demand across the EU.
Sliding EV demand has also forced European auto battery manufacturer ACC, co-owned by Stellantis, Mercedes, and TotalEnergies, 'to pause development of a site in Germany's Kaiserslautern,' according to Bloomberg, citing local media outlet Rheinpfalz newspaper. 'Europe's drivers aren't ready in large numbers to exchange their old car for a new electric one,' ACC's General Secretary Mathieu Hubert told Rheinpfalz.
EV Demand Porsche Taycan Tesla Model Y Stellantis Mercedes-Benz Battery Factory ACC Europe Sliding Demand
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