Chevy's risky plan for EV dominance: Flood the zone as competitors pull back [Business Insider]
Toyota Motor Corporation (TM)
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Source: Business Insider
Gas-powered cars and hybrids can fill in the gaps while the EV market adjusts. Chevrolet's new lineup of electric vehicles is arguably showing up at the worst possible time After a few years of rapid growth, EV sales are hitting a plateau . This has led to massive changes in EV strategies at most major automakers, with many now pivoting to hybrids. And yet, Chevrolet Chief Marketing Officer Steve Majoros doesn't seem worried about the company's chances in this new EV market. He sat down with Business Insider last week at a press event for the launch of two electric vehicles: the Silverado electric pickup truck and the Chevy Equinox EV. "I think it actually benefits Chevrolet," Majoros says of the changing EV market, which is now dominated by more frugal and practical customers—Chevy's bread and butter. Given that, he says, Chevrolet is pressing forward with EVs in hopes that their offerings can break through. This lean-in approach is a classic strategy for a mass-market bra
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