Dealers have been warning of slowing EV demand for months.
While GM's about-face was somewhat of a surprise to investors, the Detroit car company is not alone in this new view of the EV future.
Just a few months after dealers have started coming forward to warn of slowing EV demand, manufacturers appear to be catching up to that reality.
In July, the company extended its self-imposed deadline to hit annual electric vehicle production of 600,000 by a year, and abandoned a 2026 target to build 2 million EVs .
In scrapping plans with GM to co-develop sub-$30,000 EVs, Honda CEO Toshihiro Mibe said the shifting EV environment was difficult to gauge.
Persons:
Mercedes, —, Mary Barra, Bolt, GM doesn't, Tesla's Elon Musk, Harald Wilhelm, Mercedes isn't, Ford, Toshihiro Mibe, Mibe
Organizations:
EV, Dealers, Service, GM, Barra, Benz, Honda, Bloomberg
Locations:
Detroit