Illustration: Aïda Amer/Axios

The flurry of high-profile electric vehicle rollouts lately makes it easy to look past a big problem for the sector: tepid consumer demand means it's unclear when the EV age will begin in earnest, at least in the U.S.

Driving the news: Several recent stories underscore how drivers remain cautious about ditching gas pumps for plugs — even as automakers make big bets on bringing a slew of new models to market.

Why it matters: Year-end sales data tells the story of a sector struggling to find footing once you look past the big year by Tesla (which by the way saw its valuation hit $100 billion in trading yesterday before receding).

  • This Los Angeles Times story, citing Edmunds data, notes that 325,000 electric and plug-in hybrid vehicles sold in the U.S. last year, down from 349,000 from 2018.
  • “The number of battery-electric models available more than doubled last year, but EV sales didn’t budge much. That’s troubling,” AlixPartners' Mark Wakefield tells the paper.
  • Sales also slumped badly in China, the world's biggest auto market, starting in the middle of last year when the government slashed incentives.

The intrigue: Bloomberg points out that Tesla saw record sales last year, but cautions that the Silicon Valley company's success isn't spilling over into the wider EV market — yet.

  • "Look at every other corner of the U.S. auto industry — the world’s most valuable automaker, dealers, consumer surveys and market forecasts — and a more ominous picture emerges," they report.
  • A growing number of models will be fighting for space in what will remain a small market for a while. Jeff Schuster of the firm LMC, quoted in Bloomberg, says of the EV future, "It’s a long road and there definitely could be some carnage along the way.”
  • A Wall Street Journal story this week features pessimistic comments from Subaru officials.

What we're watching: Whether the sluggish sales and policy headwinds in the U.S. and China are enough to substantially change long-term global forecasts.

  • The research firm BloombergNEF studies the EV future especially carefully and tends toward the bullish side, seeing major growth as battery prices fall.
  • Its last big outlook projected that annual global passenger EV sales will reach 10 million in 2025 and 28 million in 2030. The next one arrives in May.

Go deeper: Electric vehicles face an uncertain policy landscape in 2020

Go deeper

Trump refuses to commit to peaceful transfer of power if he loses

President Trump repeatedly refused to say on Wednesday whether he would commit to a peaceful transition of power if he loses the election to Joe Biden, saying at a press briefing: "We're going to have to see what happens."

The big picture: Trump has baselessly claimed on a number of occasions that the only way he will lose the election is if it's "rigged," claiming — without evidence — that mail-in ballots will result in widespread fraud. Earlier on Wednesday, the president said he wants to quickly confirm a replacement for Justice Ruth Bader Ginsburg because he believes the Supreme Court may have to decide the result of the election.

"Not enough": Protesters react to no murder charges in Breonna Taylor case

A grand jury has indicted Brett Hankison, one of the Louisville police officers who entered Breonna Taylor's home in March, on three counts of wanton endangerment for firing shots blindly into neighboring apartments.

The state of play: Angering protesters, the grand jury did not indict any of the three officers involved in the botched drug raid on homicide or manslaughter charges related to the death of Taylor.

Dave Lawler, author of World
Updated 1 hour ago - World

U.S. no longer recognizes Lukashenko as legitimate president of Belarus

Lukashenko at his secret inauguration. Photo: Andrei Stasevich/BELTA/AFP via Getty Images

The U.S. no longer recognizes Aleksandr Lukashenko as the legitimate president of Belarus, the State Department said in a statement on Wednesday.

Why it matters: Lukashenko has clung to power with the support of Russia amid seven weeks of protests that have followed a blatantly rigged election. Fresh protests broke out Wednesday evening in Minsk after it emerged that Lukashenko had held a secret inauguration ceremony.

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