Geely has begun taking the necessary steps to launch its vehicles in Canada and could start sales as early as this year. The move places it in direct competition with BYD, as both aim to become among the first Chinese EV-focused brands to enter the Canadian market following a recent trade deal between the two countries.

They are both locked in a race against Tesla, which appears positioned to secure, if not all, then most of the first batch of 24,500 Chinese-made EV permits available at a reduced tariff rate.

Geely Group chief executive Andy An says the company expects to secure the required certifications from Canadian officials soon, clearing the way for local sales. The automaker has been steadily climbing the ranks among the world’s largest car manufacturers and is now setting its sights on expansion across several key markets.

Read: Canada Could Give China’s Biggest Carmaker A Backdoor Into The US Market

“We’re not only considering the Canadian market, but also Brazil, South America, Eastern Europe, and Southeast Asia,” An told Bloomberg. “Geely’s globalization is mostly through exports right now, but we will look to localize production.”

Geely ranks just behind BYD as China’s second-largest car manufacturer, and it already has a foothold in both Canada and the United States through Polestar and Volvo. Even so, steep 100 percent tariffs have long made exporting additional China-built models to Canada a tough business case.

Things are changing. Earlier this year, Canada and China agreed to a pivotal new trade deal, announcing that up to 49,000 Chinese-built EVs will be eligible for importation into the country at a reduced tariff rate of just 6.1 percent. That ceiling is expected to climb over time, reaching roughly 70,000 vehicles annually.

With those barriers easing, Geely, along with rivals like BYD and Chery, is lining up a Canadian market entry. The simplest route is to ship existing EVs from China, but local production, either through partnerships or independent operations, is very much on the table. Chery, for its part, is already recruiting in Canada as it prepares for its own arrival.

Due to the ongoing conflict in the Middle East, oil prices have surged to a four-year high and are fast approaching $100 per barrel. Regardless of where you live, this means that if you’re driving an ICE-powered car, you’ll be paying more to fill it up. It’s perhaps the perfect time to own an EV instead.

A recent study indicates that last year’s increased adoption rate of EVs reduced oil consumption by 2.3 million barrels per day, and these fuel savings will continue to grow as more EVs are sold. By 2030, EVs could help to reduce global oil consumption by 5.25 million barrels per day.

Read: The $8 Gallon Is Here, If You’re Dumb Enough To Pay For It

As noted by BloombergNEF, a key contributor to the reduced oil demand is two- and three-wheeled EVs, which have surged in popularity, particularly across Asia. A separate, more conservative study that factors in how often plug-in hybrid vehicles run on fossil fuels pegged last year’s daily oil savings at 1.7 million barrels.

At this rate, and with average prices of $80 per barrel, the analysis says that China would save more than $28 billion a year in oil imports thanks to its massive EV industry. Similarly, Europe would save $8 billion, and India could save $600 million per year.

Is This The Break EVs Need?

The war in Iran has made regular fill-ups for ICE drivers far more expensive. Just this week, Bloomberg expects US drivers to pay an additional $1.65 billion at the pump. With gas prices showing no signs of stopping, it should come as no surprise that interest in EVs has jumped this month.

CarEdge reports that search traffic for electric vehicles jumped 20 percent in the week following the attack on Iran. Search traffic also nearly doubled for many of the market’s most popular EVs, including the Chevrolet Equinox EV and Tesla Model Y.

Of course, surging oil prices will likely also lead to increased electricity costs, meaning charging an EV could become more expensive. However, electricity rates won’t rise by as much, as only roughly a quarter of a typical US power bill is directly tied to fuel costs.

Rolls-Royce once promised a whisper-quiet electric future. Turns out, its customers still prefer a different kind of whisper. The kind that comes from a silky V12 under a mile-long hood.

The British luxury marque has quietly backed away from its plan to go fully electric by 2030. Instead, it’ll keep building petrol-powered cars well into the next decade, because that’s what its ultra-wealthy clients are still asking for. And when your customers are dropping $400,000 or more on a car, you tend to listen.

More: Six Figure Rolls-Royce Spectre Discounts Raise The Question Why Are Rich Buyers Avoiding EVs

According to CEO Chris Brownridge, demand for EVs just isn’t universal among Rolls buyers.

“For every client that loves an electric vehicle there is one who does not,” said Brownridge, according to The Times. “We recognise some clients would rather have a V12 engine. The V12 is part of our history.”

It’s also part of the experience. Rolls-Royce buyers aren’t chasing lap times or charging speeds. They want effortlessness, presence, and that unmistakable waftability a big combustion engine delivers.

Though we can’t help thinking it’s maybe more about knowing there’s a V12 up front rather than experiencing it. A smooth, silent, effortlessly responsive electric motor setup like the one in the Spectre (seen below) that Rolls launched in 2022 seems like a logical fit for a uber-luxury sedan or coupe in the way it’s not for a $1 million hypercar that’s all about noise, drama and emotion.

Regulations Are Also Shifting

The shift isn’t just about customer taste, anyway. Changing regulations have played their part. Softer government EV targets in key markets have given Rolls-Royce more breathing room, and since it operates as a low-volume manufacturer, it isn’t bound by all of the same rules as mass-market brands.

That flexibility matters. Rolls builds cars to order, meaning it can adapt to what clients actually want rather than chasing arbitrary production targets. Right now, that means a mix of electric and petrol, not an abrupt switch to one or the other.

Rolls-Royce isn’t alone in hitting the brakes. Bentley, Aston Martin, and Lamborghini have all softened their EV timelines as reality catches up with ambition.

Just a few months after Ford announced that one of its battery plants, originally destined for EV batteries, would instead start making batteries for energy storage systems, General Motors has done the same.

The car manufacturer, in partnership with LG Energy Solution, operates the Ultium Cells LLC joint venture and runs a large factory in Tennessee. This site opened in 2024, making cells for the Cadillac Lyriq and Vistiq, and the Acura ZDX. Late last year, more than 700 employees were laid off from the plant as GM, like its competitors, pulled back its EV investments.

Read: GM’s EV Plant Will Now Build The Gas Models People Actually Want

Now, Ultium’s vice president of operations, Tom Gallagher, said that these workers will be rehired and return to work by the end of April, as the site is switching to lithium-iron phosphate cells for grid and data center customers.

An Expensive Pivot

Bloomberg reports that retooling the plant has cost the joint venture tens of millions of dollars, but will help prevent hemorrhaging even more money from its EV pivot. It will also help LG, which is also retooling four other EV battery plants in North America, including two in Michigan, one in Canada formed through a joint venture with Stellantis, and an Ohio plant established with Honda. All of these sites will now begin manufacturing LFP cells for storage systems.

“Having these facilities that are able to be converted in less than a year means that we can react and we can actually get up to capacity,” chief product officer from LG’s systems integration unit, Vertech, Tristan Doherty said. “We’re going to be supplying the majority of the US market with domestic cells.”

GM says staff at the joint venture battery plant will be retrained as part of the shift. But the car manufacturer is remaining silent about its longer-term plans for the site, having previously stated that it’d start producing lithium manganese-rich batteries in Tennessee by 2028.

Just a few months after Ford announced that one of its battery plants, originally destined for EV batteries, would instead start making batteries for energy storage systems, General Motors has done the same.

The car manufacturer, in partnership with LG Energy Solution, operates the Ultium Cells LLC joint venture and runs a large factory in Tennessee. This site opened in 2024, making cells for the Cadillac Lyriq and Vistiq, and the Acura ZDX. Late last year, more than 700 employees were laid off from the plant as GM, like its competitors, pulled back its EV investments.

Read: GM’s EV Plant Will Now Build The Gas Models People Actually Want

Now, Ultium’s vice president of operations, Tom Gallagher, said that these workers will be rehired and return to work by the end of April, as the site is switching to lithium-iron phosphate cells for grid and data center customers.

An Expensive Pivot

Bloomberg reports that retooling the plant has cost the joint venture tens of millions of dollars, but will help prevent hemorrhaging even more money from its EV pivot. It will also help LG, which is also retooling four other EV battery plants in North America, including two in Michigan, one in Canada formed through a joint venture with Stellantis, and an Ohio plant established with Honda. All of these sites will now begin manufacturing LFP cells for storage systems.

“Having these facilities that are able to be converted in less than a year means that we can react and we can actually get up to capacity,” chief product officer from LG’s systems integration unit, Vertech, Tristan Doherty said. “We’re going to be supplying the majority of the US market with domestic cells.”

GM says staff at the joint venture battery plant will be retrained as part of the shift. But the car manufacturer is remaining silent about its longer-term plans for the site, having previously stated that it’d start producing lithium manganese-rich batteries in Tennessee by 2028.

The American EV market may be faltering, but that hasn’t quelled the ambitions of Vietnamese car manufacturer VinFast. In fact, it’s been revealed that work will resume at its planned North Carolina production facility later this year, after being suspended more than 18 months ago.

VinFast first announced its plans for a US production site in March 2022 and said it could start production as early as mid-2024. Before long, that date was pushed back to 2025, and then VinFast decided to pause work on the plant entirely. It seemed almost inevitable that the firm would pull out of the US entirely, having registered fewer than 1,500 cars locally last year.

Read: VinFast Hits Brakes On US Production, Now Slated To Begin In 2028

Evidently, VinFast isn’t giving up just yet. Its most recent financial earnings report reveals that construction at the North Carolina site will resume later this year and that it still plans to start production in 2028. VinFast is also planning to open factories in India and Indonesia.

Although the company’s presence in America is tiny, it has been growing elsewhere. In the fourth quarter of 2025, VinFast sold 86,557 cars, a 127 percent quarterly jump and a 63 percent increase year-over-year, Bloomberg reports. The company ended last year having sold 196,919 vehicles, more than double its 2024 figure.

Revenues Rise But Problems Remain

Thanks to the surge in sales, revenue rose 138.9 percent year-on-year in the fourth quarter to 39.4 trillion dong ($1.5 billion), although it reported a Q4 net loss of 35.2 trillion dong ($1.3 billion), a 15 percent increase.

VinFast says it “continues to evaluate opportunities to expand into additional countries and regions across Europe, Asia, the Middle East and Africa,” adding its “expansion strategy is aligned with Vingroup’s broader global development approach, leveraging the Vingroup ecosystem, partnerships and capital resources to support VinFast’s international growth.”

If the company wants to be successful in the US, it’ll need to start building some more compelling cars. The VF 8 and VF 9, available locally, have been criticized since launching. Late last year, VF 8 owners sued VinFast, alleging that DC charging speeds top out at under 2 kW, despite them being promoted as supporting charge rates of 6.6 kW or higher, meaning it can take more than 24 hours for the battery to be fully charged.

The automotive industry is undergoing a gigantic shift, and Bentley is changing too. The British luxury brand had big plans to go all electric, but consider that plan delayed big time. Now, it’ll launch just one EV before 2030, and the rest of the lineup will use gas or hybrid powertrains.

This all comes as Bentley reports its seventh straight year of profitability despite a 42 percent drop in that figure year over year, and layoffs hit the company.

The company had previously outlined an ambitious strategy that would see five fully electric Bentleys arrive by 2035. Now, only the first one, an SUV-like EV due in 2027, is still locked in, while the rest of the program has effectively been put on ice.

More: Bentley’s New SUV Will Hit 100 Miles In Seven Minutes

That first EV is expected to be revealed before the end of this year and will ride on Volkswagen Group’s Premium Platform Electric (PPE) architecture, which also underpins several other upcoming luxury EVs. The four additional EVs were originally being developed on the Porsche-led platform that has since been canceled, effectively ending those projects.

Future Lineup Prioritizes Hybrids

Instead of rapidly expanding its EV lineup, the brand will lean heavily on plug-in hybrids and gas engines. It might even keep traditional combustion models around longer than expected. That’s big news all by itself and provides an extra layer of exclusivity for future buyers.

Bentley CEO Frank-Steffen Walliser said the company has had to rethink its entire product plan as the market shifts. Some of that comes directly from customer demands. Recent plug-in hybrid versions of the Continental GT and Flying Spur were well received, and the company says these electrified V8 models can meet future emissions rules without giving up the performance buyers expect.

According to Car&Driver, he also noted that future models will continue adopting plug-in hybrid systems, and confirmed that retrofitting EVs with combustion or hybrid powertrains is not part of the company’s strategy due to feasibility constraints.

That said, it seems clear why Bentley is being cautious. The company reported its seventh straight year of profitability, but deliveries fell five percent, with weaker demand in China cited as a major factor. Bentley says it remains financially solid, but the changing market means it has to be selective about where it invests next. A 42 percent drop in profit is nothing to ignore, and Bentley is making moves to improve its position.

See: What Bentley’s Smaller SUV Could Look Like Is Already Stirring Debate

Bentley is also cutting some 140 jobs in the UK. That’s only a portion of total layoffs, which Walliser says will likely amount to 275 employees, mostly in office jobs. Some of the changes are due to forces outside of Bentley itself.

The Volkswagen group is no longer going to build the Porsche-led Scalable Systems Platform that was going to underpin multiple Bentley products. Without it, the brand had basically no choice but to abandon its plans. Despite that, it’ll still likely go EV-only at some point… just not anytime soon.

BYD is taking on the world, and thanks to a new trade deal between Canada and China, it could start building vehicles in the Great White North. The company’s executive vice president has even admitted an openness to acquire an existing car manufacturer as it looks to further broaden its reach.

Earlier this year, Canada announced it would slash tariffs on Chinese EVs from 100 percent to 6.1 percent, but only for the first 49,000 vehicles per year. This quota will grow to around 70,000 vehicles annually over five years, reopening the door for BYD to enter the Canadian market.

Read: Jim Farley Tests Chinese Pickups, And He Has Something To Say

The Chinese juggernaut was eager to enter Canada a couple of years ago, but shelved its plans in late 2024 when the 100 percent tariffs were announced by then-Prime Minister Justin Trudeau. Now, BYD executive vice president Stella Li said at an event in Brazil that a Canadian launch is back on the cards and that the firm is even considering a manufacturing facility there.

Exactly how BYD would establish itself locally remains undecided. Ottawa has been pushing Chinese automakers toward joint ventures with domestic partners, but Li was blunt on that point, saying she does not believe “a JV will work” for the company.

Can Anything Stop BYD’s Growth?

Canada could provide BYD with a foothold in North America, meaning building models for the local market and having the option of exporting them. Fellow Chinese brands Geely and Chery are also reportedly making moves to enter Canada, although they’ve yet to commit to building cars in the country.

BYD’s growth strategy could involve acquiring an existing automaker. Speaking with Bloomberg, Li suggested the company is interested in taking over a legacy car brand, noting that “We’re open to every opportunity we have,” and that BYD is currently evaluating potential assets.

Acquiring an established automaker could also give BYD an indirect route into the United States. It is a well-worn strategy, and one that has worked before. Geely took control of Volvo and used it to expand its global footprint, while SAIC revived MG into a thriving EV-focused brand. BYD could be looking at a similar playbook.

While the world continues to grapple with virtually universal rises in pump prices, could we be in for an EV renaissance? As automakers wrestle with long-term electrification strategies, another trend is gaining attention, the growing acceptance of used electric vehicles in the USA.

Yes, EVs are no longer just for first adopters. In the States, the falling resale value and a rising number of used cars in inventory are introducing normal consumers to the used EV marketplace much faster than expected. What may previously have felt like an experiment now looks like a practical solution to stubbornly high new car prices.

Read: These Used EVs Are Selling Faster Than Gas Cars In Today’s Market

Used EV demand is climbing at a noticeable pace. In January alone, sales were 21 percent higher than a year earlier. Figures cited by Reuters show the trend stretching across the entire year, with used EV sales in 2025 ending up 35 percent higher than in 2024.

EV Depreciation Is Real

Price movement is a major reason. Data from Cox Automotive, gathered across major automotive marketplaces, indicates that the decline in prices for used EVs has been much sharper in the past year, narrowing the gap between them and comparable gas-powered vehicles.

The premium for used EVs over comparable gasoline vehicles narrowed to $1,376 in January from $2,591 in December. Analysts attribute that change to a glut of lease returns, deep discounts on new electric models, and federal tax credits that are evolving how shoppers crunch the numbers.

Best-Selling Used EVs In The U.S. In 2025

Source: Cox Automotive (Tesla totals exclude vehicles the company sold directly)

It was not only Tesla showrooms that were impacted when Tesla reduced the prices of three new models in 2023 and 2024. These reductions lowered resale in the entire electric market. When the new cars had gone cheaper, used cars were forced to be drop their prices too.

Add to that ‌car rental firm Hertz’s large-scale sale of Teslas, and you suddenly have many more second-hand options in the used EV market.

Confidence in EV Ownership Is Improving

Affordability helps, but confidence is just as important. Data on battery performance still continues to show that modern packs are built to last well past 100,000 miles. Most manufacturers offer long battery warranties, which gives peace of mind to shoppers who fear costly repairs.

Charging access has also improved. Public fast charging stations are being added along highways and in urban areas with the help of both private companies and federal funding. With increased visibility and reliability of infrastructure, the fear of being stranded with a low battery for many drivers is a thing of the past.

The new year hasn’t been kind to traditional automakers, many of which now find themselves confronting an EV reality in the U.S. that looks very different from what they had been planning in boardrooms not long ago. A mix of policy changes and cooling demand is forcing several manufacturers to rethink electrification plans that, until recently, sat at the center of their long-term strategies.

Read: Honda Cancels 0 Sedan, 0 SUV, And Acura RSX EVs

Honda is the latest to change course. The company confirmed this week that it will scrap all three electric vehicles it had planned to build in America, citing weakening demand, especially in the US market. The move places it alongside Ford, GM, and Stellantis, all of which have recently scaled back their own EV programs.

Taken together, the retreat is proving expensive. Those four automakers alone have absorbed close to $70 billion in losses tied to their EV investments, reports Auto News. And that figure doesn’t even include other manufacturers, such as Porsche, which have also begun dialing back their electrification plans.

The drop in EV demand in the US can be largely traced to decisions made by the Trump administration. New government policies not only encourage manufacturers to prioritize combustion-powered models, but the removal of the $7,500 federal EV tax credit has also further weakened demand at a time when adoption was already slowing.

In fact, EV registrations fell 48 percent in December compared to last year, dropping to just 75,427 vehicles. As a result, EV market share slipped from 9.9 percent to 5.3 percent.

The EV Graveyard

Ford has already revealed that its retreat from EVs has cost roughly $21 billion. The company scrapped plans for a three-row electric SUV and ended production of the F-150 Lightning last year after it failed to meet sales expectations.

Stellantis recently said its EV pullback will cost about $26 billion, following the cancellation of several electric models. GM has also stepped back, halting production of the Chevrolet BrightDrop electric van in Canada and repurposing a Michigan plant for gas trucks after originally planning to build EVs there.

As noted by Auto News, Honda is booking 2.5 trillion yen or $15.7 billion in expenses and losses due to its EV U-turn. In addition to killing off the 0 Saloon and the 0 SUV, the car manufacturer has killed off the all-electric Acura RSX. That sleek coupe SUV was unveiled as a pre-production prototype last year and would have been the first to use Honda’s in-house global EV platform.

Honda is booking 2.5 trillion yen or $15.7 billion in expenses and losses tied to its EV U-turn. Alongside the cancellation of the 0 Saloon and the 0 SUV, the automaker has also killed the all-electric Acura RSX. The stylish coupe SUV debuted as a pre-production prototype last year and was set to become the first model built on Honda’s in-house global EV platform.

We all know that new car prices have surged over the past six years, but they’re not alone. The used market has followed the same trajectory. Prices have risen sharply, and vehicles are now lingering on dealer lots longer than before, partly because many owners are not shopping for cars and are holding on to their current ones. Even so, one automaker seems largely unaffected by the slowdown

Fresh data from iSeeCars sheds some light on the trend. It examined more than 960,000 transactions involving used vehicles between one and five years old during February. Across that sample, the typical used car sat on the market for 53 days before finding a buyer. A year earlier the average was just 37.7 days in the US, which means selling times have stretched by roughly 40 percent in only twelve months.

Read: Tesla’s Sales Collapsed By Nearly 90% In The Land Of EVs

Used electric models, interestingly, are moving a bit faster than their gasoline counterparts. In February, the typical used EV took 47.4 days to sell. That figure has increased from last year’s 41.8-day average, but the 13.4 percent rise is modest compared with the broader used market.

Tesla Bucks The Trend

However, there’s a little more to these figures than may first meet the eye. Because Teslas still account for the vast majority of EV sales, their typically quick resale times drag down the overall market average. Remove Tesla from the equation and the picture changes. Without those models included, the typical used EV took 57.3 days to sell in February, a 15.1 percent increase from the 49.8-day average recorded at the same time last year.

So which models disappear from listings the fastest? Comfortably leading the pack is the Tesla Model X, needing an average of just 22.6 days to sell. Surprisingly, it was followed by the Mercedes-Benz EQS SUV, at an average of 26.9 days, and then the Tesla Cybertruck, at 27.4 days.

Fastest-Selling Used Cars In February 2026

Other strong performers uncovered by the iSeeCars study included the Mazda MX-5 Miata RF at 29.3 days, the Toyota GR Supra at 30 days, the Genesis G90 at 30.4 days, the Rivian R1S at 30.8 days, and the Toyota GR Corolla at 31.1 days. Several of these cars lean toward the enthusiast end of the spectrum, which likely helps keep demand strong.

Tesla’s higher-volume models appear a little further down the rankings. The Model 3 lands in 13th place with an average of 33.1 days on the market, while the Model Y sits in 16th at 34.9 days. However, it’s worth noting that far more Model 3s and Model Ys are sold monthly than the likes of the GR Supra, G90, R1S, and MX-5 Miata, so they help to sway the overall market.

The opposite end of the list looks very different. Some vehicles sit for months before finding a buyer. The Volvo XC60 is the slowest mover in the study, lingering for an average of 170.2 days. The BMW i5 is not far behind at 153 days, followed by the Dodge Hornet at 123.7 days and the Lincoln Nautilus Hybrid at 118 days.

Slowest-Selling Used Cars In February 2026

Slate Auto is becoming an example of what a small startup can do with vast amounts of cash. It’s navigated several trials and tribulations and market shifts that other, less well-funded EV startups simply couldn’t survive. Now, it’s handling another as it appoints a new CEO just months before launching its first product, a heavily promoted $25,000-$30,000 electric truck.

The company announced that Peter Faricy, a former Amazon executive, has taken over as Chief Executive Officer, Newsweek reported. He replaces longtime Chrysler veteran Chris Barman, who will remain at the company as President of Vehicles with a focus on engineering, manufacturing, and product development. Keep in mind that Amazon founder Jeff Bezos is an investor in Slate Auto.

Read: Slate Teases EV Truck Price As $20K Dream Collapses

The leadership shift comes as Slate prepares to switch from development mode to real-world sales. The startup says customers will soon be able to configure and order their vehicles, with reservations expected to convert into orders by the end of the year.

The Slate Auto pickup is stripped down and simplified to what some would call an extreme degree. For example, it doesn’t have an infotainment screen, it features crank windows, and customers are offered several options to add after initial purchase. The company said it has around 160,000 reservations and believes it can build 150,000 trucks annually at its Indiana manufacturing plant.

The CEO Shift

Slate is going to sell cars direct-to-consumer the same way Rivian, Tesla, and Lucid do. To that end, the shift to Faricy begins to make more sense. He previously worked at Ford before moving through roles at Borders and eventually Amazon, where he spent more than a decade helping build the company’s Marketplace platform into a global ecosystem for third-party sellers.

He later served as CEO of solar company SunPower from 2021 to 2024 and most recently worked with venture capital firm Bessemer Venture Partners.

According to Newsweek, Faricy will oversee the company’s commercial operations, digital strategy, finance, HR, legal, and IT divisions, while Barman focuses on building and delivering the vehicles. One thing is certain: an undertaking of this magnitude can only benefit from more hands on deck.

Porsche has outlined a recovery plan after a bruising year, aiming to streamline operations and cut costs as it works to regain its financial footing. Under new CEO Michael Leiters, the former McLaren and Ferrari executive, the company hopes to restore its reputation as a profit powerhouse while reshaping itself into what Leiters calls a “leaner, faster, and even more desirable” brand. He took over at the start of the year, replacing Oliver Blume.

A Year Of Tough Numbers

The reset follows a difficult set of results. Porsche’s operating profit plunged 92.7% from €5.64 billion ($6.55 billion) in 2024 to just €413 million ($479 million) in 2025. Revenue also slipped, falling 9.5% to €36.27 billion ($42.10 billion). Operating return on sales shrank to a narrow 1.1%, while global deliveries dropped to 279,449 units, down 10.1%.

More: Porsche Posts Its Biggest Drop In Sixteen Years

Several factors combined to produce that outcome. Porsche booked €3.1 billion ($3.6 billion) in one-time restructuring charges, absorbed €700 million ($813 million) related to US tariffs, and faced a steep 26% drop in sales in China.

Porsche CFO Dr. Jochen Breckner said: “The global challenges and the company’s realignment impacted earnings in 2025. In 2026, our recalibrations measures will continue to have one-off effects on earnings in the high three-digit million euros range. In order to secure adequate margins by Porsche standards in the medium term and strengthen our resilience in the long term, we accept these burdens.”

The Solution

During Porsche’s annual press conference in Stuttgart, Leiters acknowledged that the turnaround plan is still taking shape. With the new leadership only just past its first 100 days, he admitted the company does not yet have “an answer to every question or a solution for every problem.” Even so, he used the event to outline the direction Porsche intends to take.

“We will streamline our management structure, reduce hierarchies and cut back on bureaucracy. We have also already begun to focus more strongly on our core business. We are using the current challenges as an opportunity to act even more decisively. We will comprehensively reposition Porsche, make the company leaner, faster and the products even more desirable.”

More: Porsche’s US Sales Rose Thanks To Cars It’s About To Kill

Porsche is also planning significant changes in China, where the company intends to shrink its dealer network from 150 outlets to just 80 by the end of 2026 in an effort to protect pricing power.

Expanding The Lineup

To stop the bleeding, Leiters is looking upmarket. One of the first moves will be to simplify Porsche’s product portfolio by cutting complexity and reducing the number of variants. According to the CEO, the changes will focus on models with weaker demand, which likely points to the Taycan. Even so, Porsche says it plans to introduce “emotive new derivatives” of certain models later this year, though it has not revealed exactly which ones.

More: Porsche’s Mega SUV Drops EV Plan For V8 Power And An Audi Link

At the same time, Porsche’s boss confirmed the company is developing new models aimed squarely at higher-margin segments. “We stand for uncompromisingly good sports cars that you want to drive yourself, that are fun, that convey performance and passion. And all this regardless of the type of powertrain,” said Leiters.

“We are considering the expansion of our product portfolio in order to grow in higher-margin segments. In doing so, we are looking at models and derivatives both above our current two-door sports cars and above the Cayenne,” he added

Porsche’s Next Halo Car?

The reference to two-door sports cars clearly points to the 911. What might sit above it is less clear. Leiters did not elaborate, but the possibilities range from a modern interpretation of the 928 to something far more exotic, such as a supercar or even a flagship hypercar.

Read: Porsche 928 Conceptualized As A Modern Electric Coupe For 2030

Porsche has been exploring that territory for years, with potential successors to the 918 Spyder. The Mission X concept hinted at one possible direction before enthusiasm for electric hypercars cooled.

The other confirmed project is a long-rumored three-row SUV flagship positioned above the Cayenne. Codenamed K1, it is expected to target markets such as the United States and the Middle East and could offer V6 or V8 powertrains.

The new offerings will benefit from the expansion of “high-margin customization programs” that will “further strengthen the exclusivity of the brand” helping it move into a new territory closer to the likes of Ferrari and Lamborghini.

ICE Life Support And EV Reality Check

Leiters acknowledged that Porsche needs to rethink what he called “the right drive technology.” Early momentum behind the fully electric Taycan has run into a tougher reality as regulations, demand patterns, and customer expectations have shifted in recent years. Slower-than-expected demand has forced the company to “adjust the ramp-up and portfolio of fully electric vehicles while extending the life of combustion and hybrid offerings.”

More: Porsche’s Next Sedan Could Replace Both The Panamera And Taycan

The ultimate goal is to reduce upfront and direct costs by “fundamentally rethinking the development of our sports cars.” In the process, Leiters effectively confirmed earlier reports that the next generation of the 718 series will follow a multi-energy path. Porsche also plans to “leverage further synergies between our models,” using platforms and industry solutions more flexibly.

Renault has decided the best way to prepare for the future is to literally name its strategy after it. The company’s new futuREady plan promises dozens of new models, cheaper EVs, and dramatically faster development cycles as the French automaker tries to China-proof its business and become Europe’s “benchmark” carmaker.

The strategy builds on the Renaulution turnaround plan launched in 2021, which helped stabilize the company after several turbulent years. Now Renault wants to turn that recovery into long term growth with a roadmap that stretches through the end of the decade.

Related: Renault’s Making A Jimny, But Even The French Can’t Have It

The headline figure is simple enough. Renault Group plans to launch 36 new models in the next five years, including 22 in Europe and 14 for international markets. Electrification will be a lynchpin, with 16 of those European launches set to be fully electric.

Hybrids will still have a role, though. Renault says hybrid technology will remain in its European lineup beyond 2030 while continuing to expand globally where charging infrastructure isn’t yet ready for a full EV takeover.

Dacia Expansion

Each brand has its own role in the plan. Renault aims to strengthen its European position while expanding internationally, targeting more than 2 million annual sales by 2030 with half delivered outside Europe, including a production version of the chunky Bridger combustion SUV set to do battle with the Suzuki Jimny in India (see gallery below).

Dacia will stick with its familiar value formula but add more electrification. By the end of the decade, about two thirds of its sales are expected to be electrified and the brand will expand further into the larger C segment.

Alpine will carry the performance torch and a new generation of the A110, this time as an EV, is coming alongside newer models like the electric A290 and A390. And the brand’s boss Philippe Krief confirmed that the electric A110’s platform will also be able to handle combustion power. But if you were hoping to buy one in the United States, Renault’s latest strategy rules out a North American adventure for any of its brands.

Compact Upgrade

One of the most important pieces of the plan is Renault’s upcoming RGEV medium 2.0 electric platform destined for its next generation of compact, C-segment vehicles. This architecture brings 800 volt charging technology to the company for the first time and promises some impressive numbers, including a 40 percent reduction in build costs. Renault teased its possibilities, and also the look of the next Espace, with the the R-Space Lab, a slippery EV concept (shown below).

Renault says EVs built on the platform could deliver up to 466 miles (750 km) of range, while a range extender version could stretch that figure to around 879 miles (1400 km). Power won’t be lacking either. The next-generation electric motor is expected to deliver up to 271 hp (275 PS).

Keeping Up With China

Software is another big piece of the puzzle. Future Renault models will move toward software defined vehicle architecture that allows most functions to be updated over the air and eventually managed by artificial intelligence systems. The company also wants to speed things up dramatically. Renault aims to reduce development cycles for new vehicles to just two years, something that will be crucial to keeping pace with Chinese automakers.

Renault’s platform strategy

Volkswagen has just handed over its 2 millionth fully electric vehicle, and the pace is what really grabs you. It took 12 years to reach the first million. The 2 millionth car showed up just 10 months later.

The anniversary car is an ID. 3 hatch, built in Zwickau, Germany, and delivered to a customer at the Transparent Factory in Dresden. The ID. 3 kicked off VW’s large-scale MEB era back in 2020, though the modern electric journey really began with the e-up in 2013 and the company experimented with a small number of electric Golfs as far back as the 1980s.

More: VW’s ID. Polo Interior Brings Back Something You Thought Was Gone For Good

Volkswagen only celebrated its 1 millionth EV, an ID.3 GTX, last April. That means the brand effectively doubled its lifetime electric output in less time than it takes some automakers to add a new paint color to mark a model-year changeover.

ID. 4 Led The Charge

The heavy lifter in that sales charge is the ID. 4 SUV, which together with its ID. 5 fastback brother clocked up roughly 901,000 deliveries worldwide, proving SUVs still rule even in the electric age. The ID. 3, whose sales potential is restricted by the fact that it’s not available in North America, follows with around 628,000 units, while the larger and more premium ID. 7 has added another 132,000 to the tally.

Europe is the engine behind much of that growth. Roughly one in five cars sold there is now electric, and Volkswagen has carved out a leading role in the region. The US market has definitely cooled, but globally, the trajectory is still pointing upward.

More EVs On The Way

And VW isn’t slowing down. A refreshed ID. 4 badged as the ID. Tiguan is on the way this year, and the new ID. Polo (seen below) and first ever electric GTI, the ID. Polo GTI, will take the fight into the affordable small car segment.

An ID. Cross SUV spinoff follows soon after and an electric ID. Golf is also looming on the horizon. At this pace, don’t be surprised if we’re talking about 3 million before your summer tan has faded.

VW

Pressured by businesses on the importance of immigrant labor, some Republican states are backing off plans to require all employers to check for legal employment status before hiring workers.

State and federal legislation to require that employers use E-Verify, a federal system to check legal status, has been limited this year as a push grows from business interests that say checking status could hurt state economies. Business groups have cited the cost of complying with the laws and the potential loss of crucial immigrant workers who don’t have legal work authorization.

Millions of worksites around the country use E-Verify to ensure new hires are legal to work in the United States, but it isn’t required in all states or for every industry. Going after employers has not been as popular with Republicans as immigration enforcement aimed at detaining and deporting people living here illegally.

In Idaho, for instance, legislation that would require all employers to use E-Verify, crafted with help from the conservative Heritage Foundation, is awaiting state House consideration — while a more limited mandate for large state and local government contractors passed the state Senate Feb. 19.

“I think we should tread lightly, and private businesses should not be enforcement agencies,” said state Sen. Mark Harris, a Republican and rancher who sponsored the less-stringent bill, on the Senate floor before the vote.

Idaho Republican state Sen. Brian Lenney, who voted for the bill, spoke resentfully of business leaders who came to the state Capitol to lobby against the broader mandate for all employers to use E-Verify.

“There were men in suits holding a press conference downstairs to let the world know and tell Idaho which industries cannot survive without illegal labor,” Lenney said before the vote. “They’re trying to protect a system that keeps human beings cheap, compliant and silent. … Is this bill making a dent, like it should? Not really.”

An industry-funded report said a sharp drop in unauthorized labor from deportations could cost the state economy billions of dollars and reduce state tax revenue by almost $400 million. The report, funded by the Idaho Alliance for a Legal Workforce and prepared by regional economists, emphasized the importance of immigrants to certain industries: As much as 90% of the workforce in dairy production is foreign-born, for example, and half of those individuals might not be authorized to work in the U.S.

There were 21 states with E-Verify requirements for contracts or business licenses as of 2024, federal data showed. Seventeen states had pending legislation to begin or expand E-Verify mandates as of Feb. 5, said Mick Bullock, a spokesperson for the National Conference of State Legislatures.

Some bills have not progressed after business opposition, such as an E-Verify mandate in Kansas opposed by the Kansas Chamber and the League of Kansas Municipalities. The chamber said the bill “would create an aggressive, invasive, and costly system of employment verification on all Kansas businesses” in 2025 testimony.

“The goal of this bill is to prevent illegal immigration, however with the bill’s broad definitions and severe penalties this legislation would suppress business operations,” the chamber wrote in submitted testimony.

Another example of a limited E-Verify mandate is a recent Ohio law. It applies only to nonresidential construction, despite testimony about illegal labor in residential construction. After Republican Gov. Mike DeWine signed the measure in December, it takes effect March 20.

An earlier version of the same Ohio bill passed the state House in 2024 but did not pass the state Senate. In a hearing at the time, Richard Ochocki, an organizer for the state plumbers and pipefitters union, said he spent three hours at an apartment and condo construction site in Columbus without finding even one person with the legal work status required to join the union.

“The flow of undocumented workers to Ohio has been steadily increasing over my five and a half years as an organizer. I have personally encountered undocumented workers in Cleveland, Canton, Ashland, Lima, Cincinnati, Dayton, and Columbus,” said Ochocki, speaking in favor of E-Verify, in prepared remarks.

Madeline Zavodny, a professor at the University of North Florida who has researched the effects of E-Verify on the labor market, said exemptions for short-term work such as agriculture or small business is common, but limiting it to part of one industry such as nonresidential construction is unusual.

“The more limited the law is, the less impact it would have,” Zavodny said. “And nonresidential construction may be heavily unionized in Ohio such that there’s not a lot of unauthorized workers anyway. Unauthorized workers are often day laborers who work primarily in residential construction, not nonresidential.”

Meg Rietschlin, majority owner of a construction firm that bids on schools, roads, culverts and other nonresidential construction projects in rural Crawford County, Ohio, said she requires her workers to have a valid driver’s license, which should be enough to show they have legal status. An E-Verify mandate would drive her out of business because of the additional paperwork, she wrote in 2024 testimony.

“If you inundate me with the requirement to collect so much information, I will cease to be,” Rietschlin wrote. “This proposed law is meant to drive the small contractor out of public works opportunities.”

A report Zavodny co-authored in 2015 found E-Verify mandates appeared to help some workers who compete with unauthorized workers, such as Mexican immigrants who became citizens and U.S.-born Hispanic people, but did not measurably help U.S.-born non-Hispanic white people.

A 2020 working paper published by the National Bureau of Economic Research found no evidence that E-Verify mandates improve the native-born labor market in general, and no evidence that people without work authorization moved away because of the mandates. Unauthorized workers may move from large businesses to small businesses that are less likely to comply with the mandates, the paper concluded.

As the Trump administration’s immigration crackdown ramped up last year, restaurants and construction lost the largest number of immigrant laborers compared with 2024, according to a Stateline analysis of federal data. Landscaping, building services and warehousing industries also lost tens of thousands of laborers.

Rick Naerebout, who represents about 350 Idaho dairy farmers as CEO of the Idaho Dairymen’s Association, said his members depend on unauthorized labor to run their farms that together produce more than 18 billion pounds of milk in 2025, behind only California and Wisconsin.

Idaho farms have not seen large-scale raids by Immigration and Customs Enforcement officers, Naerebout said, though there was one last year in South Dakota and one in New Mexico in June, among others. Naerebout said he believes President Donald Trump has paused most ICE raids on agriculture and tourism, as has been reported by The New York Times and Stateline.

Idaho should limit E-Verify mandates to government as the state Senate bill would do, and shouldn’t pass more stringent mandates as the other bills would do, Naerebout added.

“The president couldn’t be more clear that he wants there to be space for critical industries like agriculture to try and get to where we find the solution,” Naerebout said. “The irony is Idaho voted overwhelmingly for President Trump, and you’ve got Idaho Republicans now saying what the president’s doing isn’t good enough.”

Among other states, Tennessee has a broad E-Verify mandate for all businesses with at least 35 employees, though the exact number of employees has shifted over the years. Republican Gov. Bill Lee signed a law effective in 2023 that lowered the threshold from 50 to 35, and one proposed bill this year could shift it back to 50 employees.

The mandate has faced business opposition but “other than a brief period of adjustment implementation has gone very smoothly,” Republican Lt. Gov. Randy McNally said in a statement to Stateline. McNally and other state officials have collaborated with the Trump administration on a package of proposed state legislation this year, including making E-Verify mandatory for state and local government hires.

Florida also has an E-Verify mandate for employers with 25 or more employees, with a bill under consideration to expand it to all employers. It passed the state House in January and is now in a state Senate committee.

In Democratic-led California, employers starting this month must notify employees about their rights under state law, including a prohibition on using E-Verify in a discriminatory way to screen only some employees. A bill in Democratic-led New York, with 12 Democratic sponsors, would prohibit use of E-Verify to screen job applicants or check on existing employees, which is  already prohibited by federal law. E-Verify can only be used legally after a job offer and before an employee has started work.

Meanwhile, some conservative-leaning states are moving to tighten rules. An Indiana bill would hold public works subcontractors accountable as part of an E-Verify mandate for public agency contracts and a West Virginia bill would require all employers to use E-Verify.

Federal legislation to mandate E-Verify for all employers has bogged down in recent years. A Senate bill last year did not progress beyond a committee, and a similar House bill bogged down in 2018.

Last year, Pennsylvania Republican U.S. Rep. Ryan Mackenzie introduced a bill that would require E-Verify for federal contractors only, saying it was “an area where mandatory E-Verify makes clear sense” in prepared testimony.

Mackenzie said he had sponsored an E-Verify law as a state lawmaker in 2019, and that it “has ensured there is a lawful workforce in the construction industry in my home state of Pennsylvania, protecting American workers from unfair competition, providing a level playing field for businesses, and helping to confirm all appropriate taxes are paid.”

Mackenzie’s bill on federal contractors had a committee hearing in January, during which California Democratic U.S. Rep. Zoe Lofgren said the bill would need an exemption for agriculture, since the government buys food and milk produced by undocumented workers for the military and schools on military bases.

“If we don’t exempt ag, we will have a very serious problem throughout the federal government, especially in our military that relies on ag products in feeding our soldiers,” Lofgren said. Her request to amend the bill was voted down.

Stateline reporter Tim Henderson can be reached at thenderson@stateline.org.

Stellantis has published its 2025 financial results, and they make for sobering reading. The headline figure is a €22.3 billion deficit, equal to $26.3 billion at current rates, marking the group’s first-ever annual loss. That swing looks even worse when set against 2024’s €5.5 billion ($5.8 billion) profit, which was already down 70% compared to 2023. In the span of two years, the company has gone from profitable to deep in the red.

The group, which owns 14 brands including Abarth, Alfa Romeo, Chrysler, Citroen, Dodge, DS Automobiles, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, and Vauxhall, attributes the damage to €25.4 billion ($30 billion) in “unusual charges,” largely tied to what it calls a “profound strategic shift to meet customer preferences.” In plain terms, Stellantis overestimated how quickly the market would pivot toward electric mobility and is now paying to recalibrate.

More: Stellantis Bet Big On EVs, Now It’s Betting On The Engine Europe Wrote Off

That is only part of the story. It wasn’t just a matter of customers being slow to embrace EVs. Several of Stellantis’ electric efforts, particularly in the US, struggled on their own terms. Models such as the Dodge Charger Daytona EV and the Jeep Wagoneer S were priced at the upper end of their segments yet struggled to justify that positioning against established rivals.

Rethinking Its EV Strategy

Regardless, that recalibration means canceling several electric models that were in development, mainly for the US market, and putting new emphasis on high-margin combustion engines. The return of the HEMI V8 in North America is the obvious attention grabber.

In Europe, diesel and mild-hybrid gasoline options are being folded back into the lineup across several current and upcoming models, including the now-delayed Alfa Romeo Stelvio and Giulia replacements.

“Our 2025 full year results reflect the cost of over-estimating the pace of the energy transition and of the need to reset our business around our customers’ freedom to choose from the full range of electric, hybrid and internal combustion technologies,” said Stellantis CEO Antonio Filosa.

“In the second half of the year we began to see initial, positive signs of progress with the early results of our drive to improve quality, strong execution of the launches of our new product wave and a return to top line growth. In 2026 our focus will be on continuing to close the execution gaps of the past, adding further momentum to our return to profitable growth.”

How Does Stellantis Plug The Gap?

The financial strain has prompted the board to suspend the 2026 dividend and authorize up to €5 billion ($5.9 billion) in hybrid bonds to shore up liquidity. Industrial free cash flow remained firmly negative at €4.5 billion ($5.3 billion), although that represents a 25% improvement on the previous year.

Net revenue totaled €153.5 billion ($181.1 billion), down 2% year-on-year. The decline is attributed to exchange rate headwinds and net pricing drops in the first quarter of 2025, neither of which tends to flatter the bottom line.

More: Stellantis Adds A Third Shift Where You Least Expect It

The group posted an adjusted operating loss of €842 million ($993.5 million). Still, the second half of the year showed signs of stabilization. Revenues rose 10% and shipments climbed 11% as inventories normalized. Stellantis also highlighted that H2 2025 marked the first six months under its renewed leadership team, a detail clearly intended to signal that the worst may already be in the rearview mirror.

Shipments Went Up But Shares Go Down

Combined shipments for 2025 reached 5.573 million vehicles, up 1% year-on-year. That keeps Stellantis in fifth place globally by volume, behind Toyota (11.3 million), Volkswagen Group (8.98 million), Hyundai Motor Group (7.27 million), and General Motors (6.11 million).

Momentum was stronger in the second half, with 2.883 million shipments, up 11% over H2 2024. North America did most of the heavy lifting, posting a 39% H2 increase as inventories returned to more normal levels and demand improved.

Investors, however, appear less convinced. Reuters reports that Stellantis shares have fallen by more than 30% this year, sliding to their lowest level since the PSA-FCA merger in 2021.

Stellantis

Dacia is Romania’s largest and most important car manufacturer, and this year it is preparing to expand its lineup in a meaningful way. Two all-new models are on the way, yet neither will actually be built in the company’s home market.

The first arrival will be a new wagon with crossover elements, currently known as the C-Neo. Positioned above the Jogger in Dacia’s range, it is intended to tap into the ever-growing compact segment.

Read: India’s New Renault Duster Looks Like A Rich Man’s Dacia Duster

Initially, Dacia planned to build the C-Neo in Romania. However, Romania-Insider reports that production will instead take place in Turkey. That decision leaves Dacia’s Mioveni plant in Romania focused exclusively on the Duster and Bigster.

SHproshots

The C-Neo will be underpinned by the existing CMF-B platform and should be offered with a slew of different powertrains, including gas, LPG, mild-hybrid, and full-hybrid options that use a 1.2-liter turbocharged three-cylinder.

Visually, Dacia says the new wagon will follow in the footsteps of the Sandero Stepway with rugged design elements, likely including muscular fenders and roof rails.

A New Electric City Car

Just as significant is Dacia’s upcoming electric vehicle, which will be based on the Renault Twingo. It will not undercut the China-built Dacia Spring on price, but it is expected to start at around €18,000 or just over $20,000. That still positions it as one of the more accessible EV options in Europe. Production of this new addition will take place at Dacia’s Novo Mesto plant in Slovenia.

Dacia has identified the A-segment as an important growth driver in the broader EV market, hence why it’s launching a new model to compete. A single teaser image of the car has been released, revealing that while the proportions may be similar to the Twingo, it will look nothing like its French sibling.

Beyond these new models, Dacia already produces the Sandero and Jogger in Morocco to take advantage of the lower manufacturing costs. The approach reflects how the brand now operates as an international manufacturer, not one anchored solely to its Romanian base.

The automotive industry never slows down, and EV brands feel that pressure more than most. Lucid is responding to the market and to its own position by cutting 12 percent of its workforce. The move comes as it attempts to tighten spending and move closer to profitability as it ramps up Gravity production.

The layoffs were confirmed to Bloomberg in an emailed statement, following the leak of an internal memo from interim CEO Marc Winterhoff that circulated within the company and was seen by Techcrunch.

In the memo, Lucid addresses the cuts head on. “Saying goodbye to colleagues is never easy,” Winterhoff wrote. “We are grateful for the contributions of those impacted by today’s actions, and we are providing severance, bonus, continued health benefits, and transition support to help them through this period.”

More: Lucid Built Its First $50K Midsize EV Prototypes, But Still Hasn’t Shown A Single One

Bloomberg reports that the majority of workers affected are salaried and corporate roles. Hourly workers tied directly to manufacturing, logistics, and quality operations at Lucid’s Arizona facility are not expected to be part of this reduction. That’s not all that shocking, given the brand’s need to ramp up production of the Gravity SUV and continue development of its Midsize platform.

“Importantly, today’s actions do not affect our strategy,” Winterhoff wrote. “Our core priorities remain unchanged, and we continue to focus on the start of production of our Midsize platform. With disciplined execution, we are also focused on further expansion into the robotaxi market, continued ADAS and software development, and growth in sales of Lucid Gravity and Air across existing and new geographies.”

A Murky Future

Right now, Lucid’s momentum is almost entirely pinned on the Gravity SUV. It undoubtedly broadens appeal beyond the ultra-luxury Air sedan expanding its reach to a more popular segment. That said, it’s not exactly what most buyers would consider mainstream or affordable.

That’s why the Midsize platform is so key to Lucid’s future. Tesla’s Model 3 and Model Y turned a niche player into a volume powerhouse, and Lucid is hoping for a similar inflection point.

Rivian is following a similar playbook with the R2. By the end of the year, we should have a clearer picture of who is getting closer to that goal. In a cooling US EV market, profitability is no longer a nice to have. It is the whole game.

Ford’s sudden decision to cancel its multi-billion-dollar partnership with South Korean battery manufacturer SK On in December, just four months after the first batteries rolled off the line, left 1,600 people without jobs at the joint battery plant in Kentucky.

Read: Ford Got The Loan And Built The EV Battery Plant. Now Everything’s Falling Apart

The move caught workers and locals off guard, and many are placing the blame squarely on Ford. That’s not surprising. Still, the political backdrop, including Trump-era EV policies that limited Ford’s options, played a larger role in how this ultimately unfolded.

The Ripple Effect Of A $7,500 Credit

All brands selling EVs in the US were hurt by the government’s decision to kill the federal tax credit, valued at up to $7,500 for new EVs. While some understandably criticized the program as artificially propping up the industry, there’s no denying that it played a hugely important role in convincing many Americans.

With fewer people buying EVs and other government policies relaxing CAFE fuel-economy standards, Ford acknowledged that “the operating reality has changed,” which is why it’s scrapped a slew of its more ambitious and important EV projects. “We are listening to customers and evaluating the market as it is today, not as everyone predicted it would be five years ago,” Ford recently said.

As reported by The New York Times, Kentucky’s Democratic governor, Andy Beshear, said: “1,600 Kentuckians lost their jobs solely because of Donald Trump pushing that big, ugly bill, eliminating the credits that had people interested and excited to buy EVs. I bet many, if not most, of those 1,600 people voted for him, and he basically fired them.”

Unexpected Closure

The site had only been manufacturing EV batteries for four months before it was shut down. Speaking with the NYT, Joe Morgan says he left a job of 24 years to start working at the plant, confident that EVs would grow in popularity.

Morgan, a registered Republican, acknowledges that “taking away the tax credits did play a little bit of a role in not selling EVs,” but he thinks it’s Ford that should take most of the blame. “I just think Ford made a bad decision when they came out with an F-150 that they wanted to make all electric.”

Derek Doughtery shares a similar view. Landing a job at the battery plant was a turning point for him after previously experiencing homelessness, especially with a second child on the way. He, like others, believes Ford may have misread the market and bears more responsibility than the government.

“At the end of the day, whatever the government policy would be, the company made the decision,” he said.

A Scaled-Back Future

Fortunately, the facility will not close entirely. Now under full Ford control, it will be retooled for battery storage production and is expected to employ roughly 2,100 people. That figure is well below the 5,000 jobs originally projected when the plant was dedicated to building EV batteries, but it offers at least some continuity for a site that only recently promised much more.