Electric Vehicle U-Turn: Ineos Automotive Abandons EV Plans Amid Market Concerns
2025-02-17
Stockhead
In a surprising move, Ineos Automotive has scrapped its inaugural electric four-wheel-drive project, citing 'alarming trends' in the second-hand EV market. The company's Australian boss highlights a decline in enthusiasm for electric vehicles, even among early adopters. This shift in strategy raises questions about the future of EVs and their resale value. As the automotive industry continues to evolve, Ineos Automotive's decision may have significant implications for the market. With the rise of sustainable transport and eco-friendly cars, the company's move is a notable departure from the trend towards electric vehicle adoption and green technology.