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GM and Ford Reduce Discussion of Electric Vehicles in Earnings Calls
Key points
- GM and Ford mention EVs less in earnings calls than before the pandemic.
- Analysis by TechCrunch and Hudson Labs covered seven years of calls.
- Companies have delayed or altered some EV model plans.
- Focus has broadened to include software and autonomous tech.
Reduced EV Focus in Earnings Calls
An analysis of quarterly earnings call transcripts from General Motors and Ford by TechCrunch and Hudson Labs indicates a decrease in the frequency of electric vehicle (EV) discussions. This trend marks a change from a few years ago when both automakers were heavily invested in EV initiatives.
Shifting Priorities and Delayed Plans
The reduced emphasis on EVs aligns with recent reports of both companies altering, delaying, or abandoning plans for new EV models, which has led to layoffs and scaled-back factory projects. While GM and Ford continue to sell EVs and have new models in development, their collective focus has expanded to include other areas.
GM spokesperson Jim Cain stated that the company views EVs as the "end game" and continues to invest in technologies like LMR to improve profitability. However, he noted that earnings calls also cover growth opportunities such as software, services, autonomous technology, and complex topics like trade and regulatory policy.
Ford's Future EV Platform
Ford spokesperson David Tovar highlighted the company's planned launch of a new "Universal Electric Vehicle" platform next year. The first product from this platform is expected to be a midsize pickup truck, which Ford believes will address the EV market's needs for cost, price, and technology.
Methodology of the Analysis
Hudson Labs sourced earnings call transcripts from S&P Market Intelligence for this analysis. Stellantis, the third major Detroit automaker, was excluded due to its historical lag in EV adoption compared to its U.S. counterparts and its previous practice of holding comprehensive earnings calls only twice a year.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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Reporting from
General Motors and Ford are discussing electric vehicles less frequently in their quarterly earnings calls compared to pre-pandemic levels, according to an analysis by TechCrunch and Hudson Labs. This shift reflects altered or delayed EV plans and a broader focus on other growth areas like software and autonomous technology.