US Automakers Face EV Challenges Amid Consumer Demand Discrepancies

US automakers have written off billions of dollars after realizing consumers' demand for electric vehicles was overestimated. Ford, GM, and Stellantis have taken significant charges on their bottom lines. Industry watcher Curt Hopkins blames the discrepancy in consumer demand between the US and Europe, as well as the American driver's preference for longer distances and lower gasoline taxes. Hopkins expects automakers to shift towards hybrid and range-extended EVs, but notes that US and European automakers may struggle to compete with Chinese manufacturers in a head-to-head price war.