Electric Vehicle Sector News Roundup

Recent developments in the electric vehicle (EV) market showcase a mixed scenario of advancements and setbacks In Connecticut, Democrats have shifted stance and appear less inclined to push auto manufacturers towards EVs The change in posture aligns with the Biden administration's slower approach to the federal EV transition. Governor Ned Lamont has pulled back from imposing regulations to align with California's stringent emissions standards that aim for a gas-powered vehicle phase-out by 2035 Instead of a vote to affirm these standards, Connecticut lawmakers propose establishing a commission to navigate the state's path towards zero-emission vehicles In contrast, Ford Motor Company has reported an impressive surge in its U.S. sales In February alone, Ford sold 165,693 vehicles, marking a 9% increase from the previous year, with year-to-date sales up by 7% Notably, Ford's EV sales jumped by 81%, significantly contributing to its overall growth.

On another front, Volvo Cars, owned by China's Geely Holding, announced a slight 2% dip in sales during the same month due to the Lunar New Year's impact in China However, the company observed a 14% surge in its electric vehicle sales, which constituted 22% of its total sales in February Despite the political and economic challenges in certain regions, companies like Ford and Volvo exhibit a strong inclination towards electric mobility, with EV sales carving a growing share in their sales portfolios..