Automakers Are Pumping The Brakes On The EV Transition

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The transition to electric vehicles is supposed to be a matter of when not if. However, automakers are starting to seem a little hesitant about what resources they should pour into EV production. Manufacturers have had supply issues building electric vehicles as well as trouble actually selling the ones they have made. Now, companies are lowering expectations for their investors.

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Futurism suggests that General Motors sounds a little less bullish than they did not long ago. GM previously announced that Cadillac will have an all-electric lineup in a few years and the Chevy Blazer EV has proven to be a popular addition. The hype and anticipation didn’t exactly translate to big numbers on spreadsheets. The website stated:

Domestically, one of the biggest automakers to sound the alarm was General Motors. At an earnings call this week, the company said that it’s ditching its target to build 100,000 EVs in the second half of this year, and 400,000 by the first half of 2024. It has not stated new targets, and says that it does not know when it will hit its previous ones.

While the biggest issues holding back EV adoptions are vehicle pricing and charging infrastructure, Futurism also pointed out other issues that might cause executives to pump the brakes on production:

GM has other big problems on its plate, however, that could play into its conservative projections, including a month-long strike by factory workers and the huge setbacks of its robotaxi division Cruise, which has paused all its driverless operations.

Automakers choosing not to devote resources to electric vehicles would likely delay the transition in general. GM and Honda have abandoned plans to develop affordable EVs, meaning there will be fewer EVs on the road and less demand for charging stations. Less demand for stations means there will be less of an incentive to build more stations.