GM and Ford are talking less and less about EVs
General Motors and Ford are discussing electric vehicles less often with investors, according to an analysis of seven years of quarterly earnings-call transcripts by TechCrunch and Hudson Labs. The shift reflects both companies’ recent decisions to delay, alter or abandon some EV plans, alongside layoffs and reduced factory ambitions, even as they continue to sell and develop electric models.
GM and Ford had previously invested billions in EVs and made them a prominent part of investor communications. GM mentioned EVs more than 100 times in each of its final two 2020 earnings calls, representing about a third of discussion; both firms now mention them less frequently than before the pandemic. GM says EVs remain its long-term destination, while Ford points to a new EV platform due next year, beginning with a midsize pickup truck.
In short
- GM and Ford are giving EVs less prominence in investor calls.
- The change follows delayed models, layoffs and reduced factory plans.
- Both companies say they remain committed to electric vehicles.
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
The companies are making a rational adjustment to genuine market conditions. EV adoption has proved slower than initially forecast, profitability remains elusive, and massive capital investment on uncertain timelines poses real shareholder risk. A more measured approach focused on demonstrable market successes—such as Ford's forthcoming midsize electric truck—reflects business prudence rather than retreat, particularly as they continue developing and selling electric models.
The case against
This pullback signals a troubling loss of conviction in transformation that remains strategically necessary. The industry faces genuine long-term transition driven by regulatory requirements and climate imperatives globally, and by reducing public commitment, GM and Ford risk ceding market share to competitors like Tesla and Chinese manufacturers accelerating their EV programmes. The shift suggests these established companies may lack faith in their own electric futures and risk repeating historical mistakes of underestimating disruptive technology.
Explained simply
General Motors and Ford are two of the largest carmakers in the United States. Electric vehicles run on batteries rather than petrol or diesel, and both companies have invested heavily in developing them as governments, customers and rivals have pushed the industry towards lower-emission cars.
Carmakers discuss future plans with investors, who provide money and assess how a business is performing. These plans can change as companies weigh the cost of new factories and models against demand, competition and the shift away from petrol-powered vehicles.
EVs matter to the car industry because the transition affects what companies make, where they invest and the skills their workers need. GM and Ford still develop and sell electric models, while their longer-term plans shape how investors judge their prospects.