The vast global overproduction of electric cars at a time of stalling consumer demand is likely to result in millions of zero-emission vehicles being left unsold over the next two years and hasten price wars, according to private industry research.
This is likely to benefit consumers but could send parts of the industry into crisis, experts say. Regulators and legislators, meanwhile, are likely to come under renewed pressure to rein back their ambitions to reduce carbon emissions, which has fuelled the electric car production boom.
Proprietary industry data seen by The Times shows that this time last year the global automotive industry expected to make more than 15 million battery electric cars in 2024. However, slowing consumer demand has led to that projection being cut
