Sept 12 Reuters Several global automakers are scaling down their electrification targets, hurt by slowing demand for fully electric vehicles due to lack of affordable models, slow rollout of charging points, growing trade tensions and increased competition from cheaper Chinese rivals.

The global sales of EVs either fully electric or plugin hybrid rose 20 in the first half of 2024, slower than expected, data from market research firm Rho Motion showed. Europe saw only 1 growth in the same period.

Sales of hybrid electric cars, seen as a more affordable compromise between allcombustion and allelectric, have meanwhile increased.

These carmakers have recently tempered their expectations in chronological order starting with the most recent

STELLANTIS 

Stellantis on Thursday it would suspend production of the fully electric Fiat 500 small car for four weeks due to sluggish demand.

TOYOTA 

The world39;s biggest automaker plans to build 1 million EVs in 2026, compared with its earlier announced sales target of 1.5 million, the Nikkei business daily reported on Sept. 6.

Toyota said in a statement there was no change to its intention to produce 1.5 million EVs per year by 2026 and 3.5 million by 2030. It said, however, that the figures were not targets but benchmarks for shareholders.

VOLVO CARS 

The Swedish automaker scrapped on Sept. 4 its target of going allelectric by 2030 and said it expected to still be offering some hybrid models at that time.

It aims for 90 to…