General Motors recently said it would slow its electric vehicle (EV) manufacturing expansion. Ford recently said the same thing. GM specified that it would cut back on the expansion of its electric trucks. Pickups are the largest category of vehicles, based on sales in America, and GM’s Chevy Silverado is among them. The way GM described the move is that EVs are in a period of “evolving demand.” That means few people want them. (Customers are abandoning these 25 brands.)
The announcements are a pattern, since Ford and GM are America’s largest car companies. The demand for EVs in the United States has slowed in general. There are several reasons for this. One is that people worry about how far EVs will go on a single charge. They worry that they cannot find a charging station. And they feel it takes too long to charge EVs. To fill a tank of gasoline takes minutes.
EVs are also going through a period of price reductions. Tesla has dropped the prices of several of its models more than once. Outsiders expect this to increase demand. If so, it makes it more difficult for GM to catch the number one EV company in the United States by far.
Tesla is expected to hit the market with its truck this year. Called the Cybertruck, it will compete with other electric pickups. Tesla says it has two years of backorders. That may not matter much, since many of those people will not actually buy one.
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