US automakers write down billions as EV retreat widens gap with China and Europe
By Eve
Ford and General Motors announced $19.5 billion and $6 billion in EV related write downs respectively as they unwind or delay electric vehicle plans, with the 2026 Detroit Auto Show shifting focus to hybrids and petrol models. Electric vehicles now represent a higher share of new passenger vehicle sales in China, Europe, Vietnam and Indonesia than in the United States. The slower US production and adoption risks keeping prices higher, delaying battery and software improvements, and shifting automotive value creation to other markets.
Why it matters
The US pullback on EV manufacturing threatens the competitiveness of domestic automakers and suppliers in a global market where electrification is accelerating, potentially reducing future demand for charging infrastructure investment. Slower adoption and production in the US may delay cost reductions and technology advances that drive charging network economics and procurement decisions.
Source
- Original title
- “America is falling behind in the global EV race – that’s going to cost the US auto industry”
- Published
- 5 February 2026 (date approximate)
- Updated
- 22 September 2026
In this story
- Topic
- Electric Vehicles
- Place
- United States
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