Over two months, automakers have hit the brakes on planned electric vehicle production by 2030.
Ford Motor Co. paused its $3.5B EV plant in Marshall, Michigan, while General Motors and Honda have canceled a program to sell EVs for around $30,000, and Ford has postponed $12 billion in EV investment, citing market conditions.
Despite $1.7 billion of promised taxpayer incentives for the plant and site readiness, Ford says it’s not confident it can run the Michigan plant competitively. A final decision hasn’t been made about the plant that officials said would create 2,500 jobs with an average wage of $45,136.
