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✅   EV value depreciation raises consumer concerns regarding investments

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The electric vehicle (EV) market faces significant challenges in 2024, including steep depreciation rates, with some models losing 50% of their value within a year. This rapid depreciation coincides with sluggish sales growth in the U.S., where interest in EVs has declined despite substantial investments and subsidies. Additionally, safety concerns over battery fires have escalated, especially in South Korea, prompting discussions about regulatory measures. Companies like Canoo are experiencing severe financial struggles, reporting minimal revenue and mounting losses, exacerbating the overall volatility in the EV sector [15][22][12]. Meanwhile, police departments are adopting electric vehicles, suggesting functional benefits despite political skepticism surrounding EVs [21].

Helium Trades     Aug 18, 2024