Automakers Pump the Brakes on Electric Cars – NEWS
Sort of Reckoning in the electric vehicle industry some automakers are pumping the brakes on electric cars from Power Station scarcity to exploding or dead batteries from extreme weather some Americans just aren’t buying into this business and as a result Tesla 4D GM all slashing prices on their EV models Ford
Slowing production of its electric F-150 Lightning Herz dumping a third of its electric rental Fleet and the latest to pull the plug Volvo backing out of its investment in P star let’s bring in Lauren fix an auto expert and the founder of Global Automotive news Outlet
The car coach Lauren so great to see you uh thanks so we hear all these things is this the beginning of the end for electric vehicles I think electric vehicles will be in the mix there are people that want them and if you do there’s a lot of product that say that’s
Really good doesn’t fit for everybody’s lifestyle so if you want a truck there’s trucks if you want a car you can buy a Mach e but you know if you’re thinking you know what it doesn’t work for my lifestyle you can buy buy like a brand new Ford Explorer I’m standing in front
Of the 2025 Ford Explorer and they don’t offer it in hybrid they’re offering it an EcoBoost so you’re getting gas as well as good fuel efficiency and I think you’re starting to see the shift 2 manufacturers offering Hybrid fuel efficient cars that meet people’s needs
But if you want an electric car you can still buy one okay so how big of a loss is this for the AO Auto industry I mean is it a loss because obviously we know especially a few years ago this is an industry that bet pretty heavily on EVS
Well that’s because the government forced all the car brands to make a decision you can have billions of dollars in fines or millions of dollars in losses so the car manufacturers have stepped up to their plate and built cars that meet the need the infrastructure is not there so it’s not necessarily the
Cars I think at the infrastructure I just recently I was in Northern California there were four charging stations three of them didn’t work and there was a Tesla park there just left it so that means that if you needed to charge you couldn’t unless you had at
Home charging and so that’s part of the problem I don’t think it’s the car manufacturers that dro the ball all they built some really great design product and things that met the needs of consumers but if you don’t have a charging station then customers don’t want it so that means the sales have
Dropped off and so you’re seeing that offset where cars are still going to be available you’re still going to be able to buy an electric car if you want one but there’s hybrids there’s plug-in hybrids there’s gas and you can still buy a diesel truck if you need one right
So I think having that mix is what consumers really want so so is it about that mix because you know when we think about fuel we think about gas combustion engines obviously EVS were supposed to be the answer to becoming less dependent on gas which we know is a limited
Resource So eventually what’s going to happen well you’d be surprised that you know all the gas that can be produced around the world and if we drill like we were drilling from the previous administration you would have plenty of gas and gas prices would be cheaper in this case having electricity is very
Expensive unless we use nuclear power again it’s all based on incentives from the government and car manufacturers can have a lot of restrictions they’re forced to build with the EPA mandates or the National Highway Traffic safety administration mandates car manufacturers are doing their part because they don’t want the fines so
They’re they’re producing great cars and I think the problem is when they’re forced into a corner to produce something that maybe the consumer doesn’t want that falls on them and they have to adjust their their production which you’re seeing Fords adjusting their production they’re going to build less Lightnings but they’re building
More Broncos and Rangers and Mavericks because that’s what consumers want and you can see that you can’t even find a Maverick on the lot because the moment they hit they take off because they offer a hybrid and they offer a gas powered option so there’s a lot of lot
Of choices out there for consumers but it seems like the electric is not here is not gone but you’re going to see a lot less of them and you’re still going to see production of them because the fines are there now the next Administration that might change we
Don’t know who’s going to be the next president that next president could say no more incentives mind you Illinois California New Jersey are out of their state incentives so that is also impacting the sale you know and Lauren I know you know about this so let’s say we
Take the incentives out of it completely do you think we will see more of a shift back to EV investment you know with or without the incentives um I think that the $7,500 tax credit for the 12 cars that qualify um is is frustrating to the brands I mean they’re offering the
$7,500 direct to the consumer to try and offer them an opportunity to get into their vehicles you’re seeing that with the lightning truck you’re seeing that with the Mach e you’re seeing with other brands and they’re doing that because obviously they want the sale they want to keep their customers they want to
Bring in new customers but I think if you totally remove all the incen the manufacturers are going to try and make money and if they’re not making money end it they’re going to make less of them and it’s up to the customer to make the decision because the consumer always
Makes the final decision so so what do you think the future holds Lauren when it comes to energy efficient and more environmentally friendly Vehicles is it the hybrid I think you’re going to see a lot of hybrid production I think you’re going to see a lot of turbocharged
Engines which you’re seeing like in this Ford Explorer you’re going to see a lot of new types of propulsions like hydrogen which Ford has actually years ago I drove a fordex explorer that was hydrogen powered and that technology is still in their stable they just set it
Aside because they were forced to go electric we might see hydrogen come out from Ford you’re going to see all kinds of synthetic fuel coming out in the future a lot of different brands are working on synthetic fuel as well as a lot of the oil companies are realizing
Like a ramco which is a huge company out of the Middle East they’re working on synthetic fuel that you could put right into any vehicle that you currently own and it won’t make a difference to the vehicle and it won’t hurt the environment so we’re going to see a lot
Of changes coming from that perspective so start noticing some of these new technologies coming into play and all the brands are investing in it because it’s really important to get consumers what they need yeah certainly uh some exciting things on the horizon Lauren fix thank you so much for your time thank you
Live from the Chicago auto show, Lauren Fix, give you an update on the changes with automakers.
From Ford to Hertz, the offerings are changing as you , the consumer, make the choice you want. *This is the full interview*
The infrastructure is the biggest issue. Drivers are getting some great choices on EVs, but customers are not buying them. Dealers have so many left on their lots. A mix of option is the best choice.
Incentives are going away. Some brands are offering the credit to customers directly. What happens if all the incentives go away. Brands will take larger loses.
Hydrogen and synthetic fuel are potential future fuels that could take over from evs. Lots of new technology and science being developed.
Thanks for watching!
00:00 Pump the brakes on EVs
00:44 Future of electric cars
02:28 Gasoline future
04:00 Removal of incentives
04:40 hybrid cars
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