Why it’s not easy for car makers in the US to ditch electric cars

Summary: Car makers in the US have recently abandoned nearly $40 billion in electric vehicle (EV) investments due to regulatory changes that eliminated mandatory EV sales. Despite this setback, major manufacturers remain committed to electric power, driven by global competition and state compliance. The US is still striving to align with Europe and China in the EV sector, propelled by President Joe Biden’s push for half of light vehicle sales to be electric by 2030.

Brands mentioned: Ford, General Motors, Tesla, Rivian