GM and Ford are talking less and less about EVs
General Motors and Ford have significantly reduced their public focus on electric vehicles during quarterly earnings calls compared to pre-pandemic levels. While both companies maintain long-term EV commitments, they are currently prioritizing software, autonomous technology, and profitability in their investor communications.
Why it matters
This shift reflects a broader cooling of the EV market and a strategic pivot by major automakers toward more immediate revenue-generating technologies.
Just a few short years ago, General Motors and Ford were all-in on electric vehicles, spending billions of dollars on those efforts. Now, the two biggest American automakers are hardly talking about EVs with their investors.
TechCrunch teamed up with Hudson Labs, a New York-based financial research firm, to analyze the last seven years of GM and Ford quarterly earnings calls and found that both companies are talking about EVs at a lower rate than they did before the pandemic.
This shouldn’t shock anyone who’s followed the news over the last two years. Both companies have altered, delayed, or outright abandoned plans for new EV models, prompting layoffs and scaled back factory plans. And while GM and Ford still sell EVs and have new models in their product pipelines, their collective focus has shifted, and it shows in the data.
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