Electric Vehicle Industry Faces Challenges Amid Lower Demand And Falling Profits
High-interest rates are a major factor in slowing EV demand.
High-interest rates are a major factor in slowing EV demand.
Motors in electric vehicles are powered by magnets mostly made of neodymium, a rare earth metal almost entirely mined in China. Since 2018, Beijing has raised the price by nearly 80%.
Driven by lessons learned from dependency on Russian oil.