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Volkswagen delays ID.7 EV launch in US, Canada

Volkswagen premieres new ID.7 electric sedan, ahead of the Shanghai Auto Show

(Reuters) - Volkswagen has delayed the launch of its electric ID.7 sedan in the U.S. and Canada, the German automaker said on Wednesday, citing changing market dynamics.

The company did not provide a new timeline for the launch of the electric sedan. It was slated to be rolled out in the U.S. and Canada later this year.

Global automakers including Ford, General Motors and Mercedes are rethinking their EV plans as the sector struggles with slowing demand. They are instead focusing on higher-margin hybrids and gasoline-powered models.

Earlier this year, Volkswagen told Reuters that it was sticking with its plans to launch 25 EVs in North America by 2030, but was ready to adjust as the market shifts.

(Reporting by Nathan Gomes in Bengaluru; Editing by Sriraj Kalluvila)