Automakers like GM, Ford, and VW shift focus from electric and autonomous vehicles to cost-cutting and profitability.

The auto industry, previously heavy spenders on electric and autonomous vehicles, is now cutting costs due to economic concerns and slow returns on investment. Companies like General Motors, Ford, and Volkswagen are reducing expenses, including layoffs, and shifting focus to profitability. Over the past eight years, the top 25 automakers increased capital spending by 33%, from $200 billion to $266 billion, but now prioritize capital efficiency and collaborations.

November 25, 2024
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