Automakers Will Rev Up Electric Vehicle Output

(Oxford Analytica) — Shortages of critical components, shipping disruptions and rising production costs are limiting the ability of automotive manufacturers to keep pace with consumer demand. This is pushing up prices, and accelerating changes in product lines, corporate structures and supply chains. Meanwhile, major vehicle and parts manufacturers are investing heavily in new product and process development to focus on electric vehicles (EVs) and meet targets for future carbon emission reductions.