Analysis published by Wards Intelligence has revealed that hybrid vehicle sales in the U.S. have continued to rise while battery electric vehicle (BEV) and plug-in hybrid vehicle (PHEV) sales stagnated and stayed flat. BEVs, hybrids, and PHEVs accounted for roughly 22% of the light-duty cars sold in the U.S. in Q1 2025, up from 18% during the same quarter in 2024, indicating a slight increase in demand for alternative energy vehicles in the U.S.
Now that the Trump administration is looking to halt federal EV tax credits, we may see more American drivers opting for more affordable hybrids over premium BEVs and PHEVs. These evolving market conditions present headwinds to EV industry players like Mullen Automotive Inc. (NASDAQ: MULN), and they will have to come up with…
NOTE TO INVESTORS: The latest news and updates relating to Mullen Automotive Inc. (NASDAQ: MULN) are available in the company’s newsroom at https://ibn.fm/MULN
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