Americans were sold the promise that electric vehicles would bring production companies and an influx of jobs to small towns nationwide as part of a modern day goldrush.
However, as interest in EVs has slipped, lithium and nickel facilities – metals used in lithium-ion batteries for electric vehicles – are taking cost-cutting measures including mass layoffs and suspending operations.
The demand for electric vehicles surged in 2022, rising by 76 percent in April of that year, but by the end of 2023, the number of vehicles sold dropped to just 50 percent.
Car buyers are still reluctant to trade in their gas-guzzling vehicle for an EV over the high price tag and concerns about their ability to easily charge the vehicle.
h/t Stephen Green