Autos

EV sales in takeoff mode, but production a worry

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Tesla co-founder JB Straubel, founder and CEO of battery-recycling company Redwood Materials, has good news and bad news for those who believe electric vehicle sales are primed to take off. 

Straubel says demand is picking up, but the auto industry isn’t moving fast enough for production to keep up.

“This is catching people a bit off-guard,” Straubel told CNBC during an interview on TechCheck. “It’s a really strong shift. All the way from internal combustion sales dropping to EV sales increasing by almost 100% in different regions.”

Straubel says industry sales estimates predicting EVs will account for 12.7% of all U.S. auto sales by 2025 may be too low. “If you look at how fast adoption…



Source cnbc.com

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