GM and Ford have cut back on EVs claiming that demand just isn’t there. But, Hyundai and KIA and going full steam ahead on EVs. For Hyundai and KIA this means full steam ahead on construction of their EV plant in Georgia. Maybe we need to rephrase what GM and Ford have said.
That is, I think GM and Ford are saying that demand for their EVs just isn’t there. They need to look around. While overall EV sales in the US is only around 5% of total car sales that isn’t the case in most of the world. In some countries, such as Norway,EVs arg getting close to 100% of auto sales. It’s about 20% in Europe and about 30% in China.
Is it inertia? That is, are Ford and GM just too big to pivot? Or are they just in denial? While there is a lot of anti-EV FUD, mostly from the petroleum industry and legacy auto, the reality is quite different.
The Electric Viking addresses this.