Tesla's cold slap in the face this week — deliveries were down 8.5% from last year — is a sign that the transition to electric vehicles may be a little slower and more incremental than some experts envisioned.

• The EV slowdown is real, Axios automotive expert Joann Muller writes from Detroit. Sales are much slower this year than last year, while hybrids are becoming more popular.
• The Biden administration recently revised a new auto emissions rule to include hybrids and plug-in hybrids in addition to full EVs — a nod to the political and market realities of the slower-than-expected shift.

🪫 Between the lines: Wider EV adoption faces two big hurdles: affordability and charging access.

• Most EVs are still priced like luxury cars, even though prices have started to come down a bit.
• 🔌 The U.S. has about 175,800 public charging ports, with an average of 900 new chargers opening each week, according to federal data. The Biden administration has invested heavily in new charging capacity, but those projects are just beginning to come online.

💡 The bottom line: EVs are still a growing part of the market, and some manufacturers are faring better than Tesla. But hybrids and plug-in hybrids will remain attractive options for many car buyers for the foreseeable future.

• Consumers, not policymakers or automakers, will decide when the time is right to go electric.

Keep reading.

More than half of Gen Z and millennials believe they are overspending on streaming services each month, Axios' Analis Bailey reports from new Harris Poll data.

• 58% of viewers would rather watch ads than pay more for ad-free streaming, and 62% prefer free, ad-supported streaming, according to The Harris Poll's survey, conducted on behalf of Tubi.

1. 🇹🇼 A powerful earthquake struck Taiwan, killing at least nine people and wounding nearly 1,000. Go deeper.
2. 🛬 National security adviser Jake Sullivan postponed a planned trip to Saudi Arabia to discuss a potential mega-deal that would include Saudi normalization with Israel. He's recovering from a cracked rib. Go deeper.
3. 💻 Amazon is cutting hundreds of jobs in its cloud computing business, The Wall Street Journal reports.

The fourth-largest Powerball jackpot ever is up for grabs tonight, worth an estimated $1.09 billion, Axios' Kelly Tyko reports.

• The cash option is worth an estimated $527.3 million.
• If no one wins, the jackpot is expected to grow to an estimated $1.23 billion for Saturday's drawing.