Detroit Hits "Pause" On Electric Cars

From Ford to General Motors to Mercedes, one car company after another has announced delays, cancellations and billion-dollar write-downs due to their sputtering EV efforts.

These are industrial giants that built their brands on internal-combustion engines, only to see their market values dwarfed by EV market leader Tesla.

Ford recently canceled plans to build a big, all-electric sport-utility vehicle, a decision it says could end up costing it $1.9 billion. The stated reasons are softening demand and an inability to produce these vehicles profitably. General Motors has delayed production of an electric truck as well as its first EV offering under the Buick brand. This is particularly stinging for GM given that it had previously said every Buick would be all-electric by 2030.

China is the proof that EVs aren’t some passing fancy, no matter what Donald Trump and a slowdown in the sales growth of electric cars might suggest.

In July, the Chinese market for the first time had more sales of EVs than internal-combustion cars

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