General Motors has seen the writing on the wall for electric vehicles and has announced that it is now scaling back its once big plans to go all electric and will return to focusing more on gas-powered cars.
The Trump administration has ended the ridiculous (and unconstitutional) subsidies for buyers of new EVs, even as customers have already begun checking out of showing much interest in buying a new EV. And manufacturers know that once all these subsidies are history, so will be their sales quotas for EVs.
So, like most other car makers, GM has seen the trend and is scaling back its EV program.
Per Breitbart News:
The Detroit-based auto manufacturer said in a statement on Tuesday that it will “begin production of the Cadillac Escalade, as well as the Chevrolet Silverado and GMC Sierra light duty pickups at Orion Assembly in early 2027 to help meet continued strong customer demand.”
According to CNBC, the Escalade is produced in Arlington, Texas, while the Silverado and Sierra trucks are made at an assembly plant in Fort Wayne, Indiana, which will continue to produce the vehicles.
CNBC noted that the assumed bright future of EVs is dimming quickly.
“For years, the automotive industry has been in a state of EV euphoria. Automakers trotted out optimistic sales forecasts for electric models and announced ambitious targets for EV growth. Wall Street boosted valuations for legacy automakers and startup entrants alike, based in part on their visions for an EV future,” CNBC reported back in March.
“Now the hype is dwindling, and companies are again cheering consumer choice. Automakers from Ford Motor and General Motors to Mercedes-Benz, Volkswagen, Jaguar Land Rover and Aston Martin are scaling back or delaying their electric vehicle plans,” the network said.
This is all good.
EVs were never a strong market choice. The only reason many gravitated to them is because of the hype and the massive subsidies. Now, both are over and so is the expectation that the auto industry can safely abandon gas-powered cars.
Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston, X at WTHuston, or Truth Social at @WarnerToddHuston.
