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EV Sales Forecast Slashed as ‘Overriding Concern’ Bothers Industry

The Society of Motor Manufacturers and Traders (SMMT) in the United Kingdom has slashed its forecast for electric-vehicle sales as the market continues to deal with low demand. The trade body noted that more action has to be taken to encourage electric-vehicle adoption among consumers. This statement comes at a time when the burgeoning electric vehicle industry is plagued with waning demand and dwindling sales as high costs discourage drivers from making the transition to electric cars.

Dwindling electric-vehicle demand is likely the primary reason behind the SMMT lowering its new-vehicle registration forecast for 2024 from…

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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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