The Elusive Dream of Electric Vehicle Profitability The auto industry has been abuzz with talk of electric vehicles (EVs) as the future of transportation, but beneath the hype lies a harsh reality: nearly every original equipment manufacturer (OEM) loses money on EV sales.
A recent trend shows OEMs reevaluating their strategies in light of meager profits from selling EVs. Take General Motors, Ford, and Stellantis, for example.
These Detroit stalwarts have been struggling to make EV manufacturing profitable despite growing demand from consumers. Market volatility has forced them to go back to the drawing board.