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Demand for electric vehicles has slowed, major manufacturers have laid off workers, downsized and employment prospects are unclear.

AlthoughElectric CarSales continue to rise, but the growth rate is no longer as good as the big hits in 2021 and 2022. Other automakers, from pioneer Tesla to those venturing into electric vehicles, expect sales to slow this year and slowly recoup the billions invested. US dollar ambitions for electric vehicles have begun in recent yearsretrenchmentThe economic benefits to the local area from some factories began to become unclear, and thousands of auto workers lost their jobs and their job prospects became unclear.

NBC News reported that over the past three yearsbidenUnder government-promoted incentives, companies have invested billions of yuan in electric vehicles. Cox Automotive data shows demand continues to grow. In the fourth quarter of 2023, vehicle sales increased by 40% year-on-year, reaching a record 317,000 vehicles. However, the growth rate has slowed down compared to the annual growth rate of 70% in 2021 and 80% in 2022.

General Motors (GM) boasted two years ago that it would spend $4 billion to expand and renovate its Orion assembly plant in Detroit, produce electric Silverado trucks and create 5,000 jobs. But GM told about a thousand workers at the Orion plant last December that temporary layoffs would be extended through the end of 2025 to improve manufacturing processes and deal with rising demand for electric vehicles. The final pay for these workers was Christmas holiday pay.

An unidentified employee said they originally expected the factory’s transition period to produce electric vehicles to be a maximum of one year, but it has now been extended by another year. GM spokesman Kevin Kelly said the company plans to hire all of the laid-off workers at its Michigan plant, and about half of them have been hired or are being placed in new positions.

Ford said in January it would cut production of its F-150 Lightning electric truck due to slow demand and would begin laying off 1,400 workers from its production line in Dearborn, Michigan in April. Ford said most of these employees will be reassigned to different roles at the same factory or transferred to other conventional fuel vehicle plants, or offered early retirement. Ford is also downsizing its battery plant in the state. It was originally expected to employ 2,500 workers, but it would ultimately employ only 1,700.

Some electric vehicle battery factories in Michigan, Georgia and California have also laid off hundreds of workers; Lithium maker Albemarle also said in January it would lay off workers due to changing market conditions, but the specific number was unknown.

Analysts also pointed out that the outcome of the presidential election could further destabilize the electric vehicle industry: If Trump is elected, he could roll back or suspend electric vehicle incentives implemented by the Biden administration.

focus (tag2translate) electric vehicles


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