Electric vehicles appear to have a long road to profitability, as these types of cars are continuing to struggle to win over public support.

The volatile outlook for electric vehicles comes after the release of Bank of America’s Car Wars 2024 report, which predicts that electric vehicles and hybrid cars will only make up 60% of all 2025-28 models — a decrease in what was previously expected. Automakers besides Tesla, the most well-known electric carmaker, are also facing rising costs to build electric vehicles, likely hampering the output of these cars.