EV Industry Shifts Amid Slowing US Sales, Aggressive Global Expansion

In the past 48 hours, the electric vehicle industry shows mixed signals amid slowing U.S. sales and aggressive global expansion. EV and plug-in hybrid market share in the U.S. plummeted to 6.6 percent in January 2026, down nearly four percentage points from last year, following the end of the $7,500 federal tax credit.[11] This contrasts with December 2025 strength, highlighting a sharp consumer shift toward hybrids amid subsidy cuts and high prices. Canada is countering U.S. dependency with bold moves. On February 6, Prime Minister Mark Carney announced joint ventures with Chinese automakers like BYD and Chery to build EVs in Canada for global export, backed by a CAD 2.3 billion EV Affordability Program offering up to CAD 5,000 incentives.[2] A new 49,000-unit annual quota for Chinese EVs at 6.1 percent tariffs replaces prior 100 percent duties, spurring talks with suppliers like Magna International.[2][13] This diversifies from 90 percent U.S. exports, unlike stagnant prior policies. Emerging markets accelerate. Nigeria signed a deal February 8 with South Korea's Asia Economic Development Committee for an EV factory targeting 300,000 vehicles yearly and 10,000 jobs, building on its 2025 Green Mobility Bill.[4] In Indonesia, DRMA unveiled a domestic 12V lithium battery for two-wheel EVs at IIMS 2026, enhancing local supply chains, while Toyota launched hybrids like Vios Hybrid from Rp303 million.[1] Product highlights include Kia EV9 winning Cars.com's Best EV of 2026 on February 5, its second straight year.[3] Chevy Bolt offers February financing deals to boost affordability.[8] Supply chain tensions persist with U.S.-China-India competition for Congo cobalt.[7] Leaders respond decisively: Canada incentivizes localization, Nigeria prioritizes assembly-to-manufacturing phases, and Indonesia bolsters batteries. Compared to last week's focus on V2G growth to USD 11.25 billion by 2033,[3] current news emphasizes partnerships over pure sales momentum, signaling resilience despite U.S. dips. (Word count: 298) For great deals today, check out https://amzn.to/44ci4hQ This content was created in partnership and with the help of Artificial Intelligence AI.