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Why Automakers' EV Factory Investments Aren't Paying Off In The U.S.

CNBC 46



Automakers aren’t selling as many cars as they used to, and the EV transition is a lot rockier and slower than some expected. This means there’s a lot of factory space in North America and around the world that is sitting empty and unused. Some companies especially challenged are Ford, GM, and Stellantis, Nissan, and EV makers such as Tesla and Rivian. That could mean billion dollar losses, job cuts, and chaos in the supply chain. Auto makers, industry analysts and even governments are adjusting expectations and trying to prepare for an uncertain future.

Chapters:
00:59 – Why automakers are losing billions on their factories
1:06 – Chapter 1: Factory utilization
04:25 – Chapter 2: EV transition
08:58 – Chapter 3: New normal

Producer: Robert Ferris
Editor: Andrea Miller
Animation: Jason Reginato
Senior Managing Producer: Tala Hadavi
Additional footage: Getty Images, Reuters

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Why Automakers’ EV Factory Investments Aren’t Paying Off In The U.S.

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46 comments
@stavroslask1292

Toyota is the most reliable car on the planet by far! I don’t know what the future holds and if Toyotas from 2023 and on will be great but my 1997 Land Cruiser at 417,000 miles has no issues other than the typical wear and tear 🤞. Same goes for 4Runners Camrys and corollas.

@Dezzasheep

Didn't mention that people don't want EVs

@Vectormaster-go7qd

Nobody wants this EV trash, what they want us to have by socialism. They did not want to see what they get

@paullacey2999

Building expensive ev cars that ordinary people dont want or can afford.,now in the UK dealers are trying to restrict petrol and diesels to force people into ev cars which isnt going to go down well either…

@ellWayify

Very poor video. Automakers aren’t selling many EVs because they are less profitable so they did bare minimum and produced pretty average EV’s and then no one buys them and then they scale back. Would have though CNBC would have noticed this

@edwardchester1

How so many automakers got the timescale of this transition so wrong when just about anyone can see that it was going to be a decades long process, I do not know. Sure, Tesla was scaring a few people into thinking all EV would be the way, but clearly a steadier transition via hybrids was the way to go.

@TurkeyFamily

So please don’t blame Toyota. Especially the previous ceo. He is clever and visionary.

@BufanMuayThai

Also, many DON’T want EV’s because they are not fitting with their driving pattern and the infrastructure isn’t there. Add to that, EV’s ain’t a green solution, and lithium-ion cells are a crazy dirty thing to produce and recycle. “Green” EV’s is at the moment all a big scam, brought on by lobbyists and people trying to profit maximise and win elections.