AUTOMAKERS ARE CANCELLING THEIR EV PLANS PEOPLE WANT GAS ENGINES?

EV Channels Review

The video thoroughly examines the widespread pullback by major automakers from aggressive EV targets, attributing it to cooling demand, high costs, and a continued consumer preference for internal combustion engines and hybrids. German luxury brands like Mercedes-Benz and BMW are extending parallel development of ICE and EV platforms, acknowledging market realities over previous all-electric vows. Ford and GM are significantly scaling back EV plans, facing billions in losses per vehicle and pivoting back to hybrids, exemplified by Ford's Maverick and GM's return to hybrid models. Volkswagen's Audi maintains its EV goals but reinvests in hybrids, while Porsche is reportedly rolling back EV targets due to concerns about resale value devaluing its luxury brand. The Japanese automakers, traditionally more conservative, are largely sticking to their less aggressive, more flexible plans, with Honda and Toyota maintaining their long-term EV commitments but also emphasizing hybrids and ICE. Nissan's strategy, including a partnership with Honda, is questioned for its balance of EV versus hybrid/ICE targets. The overarching theme is a market correction where affordability, consumer acceptance, and the continued viability of hybrids and ICE vehicles are forcing a significant re-evaluation of EV-only roadmaps.