The largest U.S. automakers have backed away from electric vehicles, even as global sales are booming. The decision may make them obsolete. General Motors and Ford have slowed EV production targets, citing weak demand and high costs. Meanwhile, Tesla continues to dominate, and Chinese rivals like BYD expand globally. The U.S. market share for EVs stalled at 2024 levels, while China and Europe surge ahead.

Analysts warn that the retreat could cede the future to foreign competitors. The 2030 federal emissions rules loom, but automakers lobby for delays. Workers face uncertainty as factories retool. The industry's hesitation contrasts with global momentum, raising questions about long-term competitiveness.

Investors punish laggards; Ford's stock fell after cutting its EV forecast. General Motors abandoned its 2024 target of 400,000 EVs. The UAW strike highlighted labor tensions in the transition. Without a clear strategy, the U.S. auto industry risks repeating past mistakes when Japanese imports seized market share.