Part 5/10:
As a reaction to Dieselgate, European regulatory bodies began tightening emission standards, pushing manufacturers toward the development of electric vehicles. The introduction of Euro 7 standards was designed to phase out diesel cars, but this initiative faced significant delays, allowing internal combustion engines to remain in play longer than anticipated.
This gave time for manufacturers to pivot and invest substantially in electric technologies, particularly in response to Tesla's market success. However, while initial excitement surged around early EVs, many premium consumers found them underwhelming, resulting in a decline in resale values.