edgecombe

The evidence is plentiful. Manufacturers have been cutting prices as dealers' lots fill up with unsold electrics.

Ford is halving its output of electric F-150 trucks in its Dearborn, Michigan, plant. General Motors dealers are pressing the company to reverse its strategy, cut EV production, and build hybrids instead. Tesla CEO Elon Musk warned of "notably lower" EV production.

Expectations elsewhere went unmet. Hertz sold off 20,000 rental EVs at a loss of $245 million and fired its CEO, a Goldman Sachs alumnus.

EV startup Fisker, which defaulted on $192 million in Obama administration loans, is reportedly preparing for bankruptcy. Apple is shutting down its multibillion-dollar electric car division.

Nice job, JOE!







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