<div id="readability-page-1">Electric vehicle industry, which was initially projected on a very steep uphill curve, is now showing a tangible decline. Even in 2024, EV sales in the U.S. increased by 7 percent to 1.3 million units, a sharp decline compared to the growth of 46 percent the year before. Such slowdown has urged car manufacturers to […]</div>

RIVN

<p>Rivian's CEO highlights a slowdown in the electric vehicle (EV) industry, attributing it not to a lack of demand but to an oversaturation of choices. In 2024, U.S. EV sales rose by only 7% to 1.3 million units, a significant drop from the previous year's 46% growth. This decline has prompted car manufacturers to reassess their strategies in the evolving market.</p>

Rivian CEO on EV slowdown: The problem isn't demand, it's choice