GM and Ford are talking less and less about EVs
Quick Answer
General Motors and Ford are increasingly downplaying their electric vehicle (EV) commitments, with GM's EV mentions dropping from 82 to 21 in just over a year.
Quick Take
Both companies are shifting focus towards software and autonomous technologies, while Ford prepares to launch its Universal Electric Vehicle platform in 2024.
Key Points
- GM's EV discussions accounted for about a third of earnings calls in 2020.
- Ford's EV mentions also peaked around a third before declining in 2024.
- Both companies are now focusing on software, services, and autonomous tech.
- GM plans to align EV capacity with regulatory changes, shifting from all-electric goals.
- Ford's Universal Electric Vehicle platform aims to capture the midsize pickup market.
DeepSignal Analysis
What happened
General Motors and Ford have significantly reduced their discussions about electric vehicles (EVs) in recent earnings calls. GM's mentions of EVs dropped from 82 to 21 in a year, while Ford is shifting focus towards software and autonomous technologies, despite planning to launch a new EV platform in 2024.
Key evidence
- GM's discussions about EVs decreased from over 100 mentions in 2020 to just 21 in Q2 2026, indicating a substantial reduction in focus.
- Ford's initial emphasis on EVs, particularly with the Mustang Mach-E and F-150 Lightning, has waned, as the company now prioritizes its Universal Electric Vehicle platform.
- Both automakers have altered or abandoned several EV plans, leading to layoffs and reduced factory operations, reflecting a shift in strategic priorities.
Why it matters
The decline in discussions about EVs from GM and Ford suggests a strategic pivot towards software and autonomous technologies, which could impact their competitive positioning in the automotive market. Investors may need to reassess the long-term viability of these companies' EV strategies, especially as they navigate regulatory changes and market demands. This shift raises questions about the future of EV investments and the companies' commitments to sustainability.
Source Excerpt
The leading U. S. automakers are mentioning EVs on their investor calls at pre-pandemic rates, according to new data from TechCrunch and Hudson Labs.
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