The Big Year for EVs Gets Off to a Bumpy Start

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(The Wall Street Journal) — The auto industry’s pivot to electric vehicles has been rocked by setbacks in the first weeks of 2024, creating more uncertainty as a flood of new battery-powered models is hitting showrooms. 

The latest bad news came Wednesday when Tesla—the world’s most valuable automaker—warned of notably lower growth this year and left investors with few answers on how it will slow its profit-margin erosion.

The downbeat remarks followed data earlier this year showing a slowdown in EV sales growth in the U.S., automakers delaying or cutting back on plans and anxiety rising among dealership owners.

Investors will get more details about the state of the EV market when General Motors reports Tuesday and Ford Motor the following week.

This year was supposed to be an important one for EVs and a turning point for an industry that has spent the past few years pledging a move away from the traditional combustion engine.