""Over the last couple of years, the automakers really went full bore in putting in capacity for EVs," Fields, 64, told CNBC's "Power Lunch.""
""They really didn't have a good discussion on the consumer, in terms of what it was going to take to get the consumer to buy these EV products," Fields said."
""based on a planned strategic realignment of our EV capacity and manufacturing footprint to consumer demand.""
""adoption rate of EVs to slow""
Mark Fields joined Ford in 1989 and served as chief operating officer from 2012 to 2014 and CEO from 2014 to 2017. Fields said U.S. automakers rapidly increased EV production capacity without adequately addressing what it would take to get consumers to buy electric vehicles. He noted that many large EV bets have unraveled over the last 18 months. General Motors announced a $1.6 billion charge tied to a strategic realignment of EV capacity and manufacturing to match consumer demand and signaled an expected slowdown in EV adoption after federal incentives expired on September 30.
Read at Business Insider
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