THE EV BUBBLE CONTINUES TO DEFLATE: Volkswagen Cancels the ID.7. It Won’t Be Coming to America After All.

The German automaker was originally planning to launch the mid-size sedan in the US in 2024, a year after starting to market it in Europe, but decided to move back the date, waiting for the right time. However, the right time never came.

Late last year, Pablo Di Si, former President and CEO of Volkswagen Group of America, who has since resigned, claimed the electric sedan could still hit the market in 2025. However, Volkswagen officially announced it changed its mind and the model would not be coming to the US after all.

A spokesperson from the brand confirmed the information for Automotive News, explaining that the ongoing challenging EV climate is to blame for the decision. However, EV sales figures went up by 9% in 2024, while the ICE-powered car market continued its decline down the slope it has been sliding for the past few years.

Left unsaid: the adoption rate for EVs is decelerating and autmakers like VW that went all-in on giving up ICE are feeling the pain.