Why GM and Ford Are Losing Billions on EVs Despite Scaling Back: The Struggles of Traditional Automakers

Doug McIntyre and David Callaway discuss the financial struggles of traditional American automakers, particularly GM and Ford, as they navigate the electric vehicle (EV) market. Despite scaling back on their EV projects, these companies are still losing billions of dollars annually. This surprising outcome highlights deeper issues within their manufacturing processes, including inefficiencies and challenges related to workforce, labor unions, and supply chains. The conversation underscores the difficulties that established automakers face in adapting to the rapidly changing automotive landscape, where EVs are becoming increasingly important. GM and Ford, once dominant forces in the industry, are now grappling with significant financial losses as they attempt to transition to electric vehicles. This situation raises questions about their ability to compete effectively in a market that is being reshaped by new technologies and consumer preferences.