David Fickling, Columnist

A Two-Speed Electric Car Market Is Heading for a Crash

Consumers are divided between a world that’s switching to electric cars and another that’s clinging to gas.

October 29, 2023 at 10:00 PM UTC

David Fickling is a Bloomberg Opinion columnist covering climate change and energy. Previously, he worked for Bloomberg News, the Wall Street Journal and the Financial Times.

No turning back.
Photographer: SeongJoon Cho/Bloomberg

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The world’s auto industry is accelerating in two directions at once. Unless those contradictions are resolved, carmakers risk running themselves off the road.

In China and Europe, the transition to electric vehicles is gathering pace. Battery-powered autos made up nearly a quarter of sales in both markets in August, according to Morgan Stanley, with plug-in hybrids lifting the total share to 38% and 28%, respectively.