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Global carmakers retreat en masse from electric vehicle plans
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Can American car companies survive American politics?
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The Biden administration was all in on electric vehicles. The Trump administration is all but hostile to them.
Ford used to call the transition to EVs a new Model T moment. Now it’s regrouping, taking a $19.5 billion hit and pulling back from the revolution.
GM is also retreating from its plans for EVs. Chrysler is hitting the “reset†button.
Meanwhile, innovation in China has many wondering whether US companies will be left behind, assuming consumers do ultimately pivot away from internal combustion engines.
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