EV Restructuring Has Cost Automakers Over $70 Billion So Far

EV Restructuring Has Cost Automakers Over $70 Billion So Far

I'm not sure how long it will take these companies to recuperate these losses but they've gotta be very sure that there's no near-term future for EVs.

EV Bets Already Cost Four Legacy Carmakers $70B, And The Tab Keeps Climbing

Honda recently posted $15.7 billion in expenses for its EV U-turn. EV registrations in the US collapsed 48 percent in December. Ditching the $7,500 federal EV tax credit has eroded EV demand. The new year hasn’t been kind to traditional automakers, many of which now find themselves confronting an EV reality in the U.S. that looks very different from what they had been planning in boardrooms not long ago. A mix of policy changes and cooling deman…