Automakers Reaffirm Commitment to EV Despite Sales Slowdown

Despite recent financial setbacks and missed EV sales targets, major automakers like Volkswagen and Porsche reaffirm their commitment to electrification. Volkswagen plans to ramp up two European gigafactories by the end of 2026 and introduce affordable EVs like the ID.2 and ID.1. Porsche acknowledged being ahead of market developments but remains dedicated to EV transformation. The industry recognizes the necessity of decarbonizing transport to combat climate change, with electrification remaining a key strategy. Some expect the majority of the European car market to be electric by the early next decade.