The EV bust in Europe is a red flag for the region’s climate goals

Volkswagen, Mercedes-Benz, Stellantis and other carmakers have invested billions and are now grappling with building out new lineups even as demand weakens.

The port of Livorno's Il Faldo parking lot is full as Italian consumers await new EV incentives becoming available. Picture: Francesco Peccioli/Bloomberg

Europe’s plunging electric vehicle sales are painful proof the market isn’t ready to stand on its own, putting governments on notice for more support until affordable EVs become a reality.

The glut is clogging up ports and factories are cutting production — a red flag for the region’s climate goals and risk of job cuts after Tesla’s mass layoffs this week.