The great EV pullback has begun
Every day seems to bring fresh news of a delayed EV or a timeline that's been pushed back, as automakers struggle to adapt to this newly volatile environment. President Donald Trump's tariffs aren't helping much, nor is the recent passage of his $3.4 trillion 'big, beautiful' budget bill, which takes a sledgehammer to most EV incentive programs. And Trump's decision to reverse tougher emissions rules passed under former President Joe Biden is just icing on a pretty unappetizing cake.
Expect a big push by car dealers to sell EVs before the $7,500 tax credit ends in September. But after that, the future looks dicey. Many car companies are still assessing the damage, but delaying future models seems like the most popular move right now.
'Today's escalating challenges could be deemed insurmountable'
'Automakers that delayed launches over the last few years might have benefited from monitoring the market; however, today's escalating challenges could be deemed insurmountable, likely resulting in more outright cancellations if the models lack a future abroad,' says Ivan Drury, director of insights at Edmunds.
To be sure, EVs are absolutely here to stay. As many surveys have found, once you go EV, you're less likely to ever go back to internal combustion engines. Drury notes that nearly half the time (45 percent) an EV is utilized as a trade-in at a dealership for a new vehicle, the purchase is for another EV.
But in the interest of clarity, let's do a run down of all the models' uncertain futures.
Ferrari pushed back plans to launch its second fully electric vehicle, according to a report from Reuters, with an anonymous source noting that there is 'zero' demand for high-performance electric cars right now.
The Blue Oval had the foresight to cancel its three-row electric SUV before Trump's win in the US presidential election last November. Instead, Ford is banking on a future lineup of inexpensive EVs that are under development by its skunkworks team in Silicon Valley. In the meantime, Ford expects to release a bunch of new gas and hybrid-powered three-row SUVs.
The Japanese automaker has reportedly canceled plans for a large electric SUV. It was supposed to launch in 2027, but according to a report from Nikkei Asia, Honda has halted development on the model and slashed how much it plans to spend on EVs through 2030. This comes two years after Honda canceled its plan with GM to jointly release a new lineup of cheaper EVs.
Honda says it still plans on releasing its Honda Zero models in the US next year.
The ultra-luxury sports carmaker is considering postponing its first EV, the production version of the Lanzador concept from 2023, citing cooling market conditions. Lamborghini is also delaying its plans for an all-electric Urus. Instead, it plans to release a performance version of its plug-in hybrid crossover.
Nissan is cutting production plans for its refreshed Leaf EV and is delaying two EVs that were scheduled to be built at its Canton, Mississippi, plant. According to an internal memo, Nissan is delaying production of the Leaf by about 10 months, citing slowing US demand as a result of the Trump administration's decision to cut EV tax credits.
Rivian, which just received another $1 billion from its joint venture with Volkswagen, says it's still going ahead with its plan to release the R2 in 2026. But there's no word on when the buzzy R3 hatchback will go into production.
2026 is the same year that Slate Auto is expected to begin delivering its barebones electric truck, which was supposed to cost 'under $20,000' thanks to EV incentives. Now that those tax breaks are gone, Slate has scrubbed the price promotion from its website, replacing it with an expected price in the 'mid-twenties.'
I'm also nervously watching Volkswagen's lineup of affordable EVs, which right now go by the model names ID.EVERY1 (priced at €20,000, or about $20,800) and ID.2all (€25,000, or about $29,200). The company is finally seeing some success with its EVs, with global sales surging about 50 percent in the first half of 2025 year over year. But Volkswagen is struggling to sell its ID.Buzz electric van in the US, which could ultimately dissuade it from bringing its cheaper models to North America.
And there's also no official word about Tesla's supposed affordable EV. Tesla, which is on track to sell less EVs this year (and for the second consecutive year), hasn't said when the new model will be released. It's expected to be a cheaper version of the Model Y.
Meanwhile, China's EV market continues to grow. Morgan Stanley recently estimated that China's battery-electric market is seven times larger than the US, with the lead widening every year. Drury says those hoping for an all-EV future may want to temper their expectations.
'While EV supporters may be hoping for a replacement ratio closer to one-to-one, it's worth considering that EV tech has a long runway of advancement for future generations,' he says, 'even if that future is delayed.'
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