Electric vehicles (EVs) were once seen as the future of clean and sustainable transportation. Many people believed they would replace fuel-powered cars quickly and help the world reduce carbon emissions. However, as more people and companies shift to electric mobility, a serious problem is emerging. EVs are losing their value much faster than traditional gas-powered cars, making the transition to electric transport harder and more expensive than expected.

EV technology is growing at a fast pace as seen in the specifications of the latest models sold by companies like NIO Inc. (NYSE: NIO). These advances render older models less attractive on the…

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