GM and Ford are talking less and less about EVs

General Motors and Ford, once leading voices in the push toward electric vehicles (EVs), are increasingly reducing their emphasis on the topic during investor communications, according to a joint analysis by TechCrunch and Hudson Labs. The study examined earnings call transcripts from both automakers over the past seven years and revealed a noticeable decline in how frequently EVs are discussed compared to earlier in the decade. This shift comes amid reports that both companies have scaled back or postponed several EV projects, resulting in workforce reductions and reduced production plans. The findings align with broader industry trends that suggest the initial fervor surrounding EVs has cooled somewhat. While both companies continue to offer EVs and maintain development programs, their strategic priorities appear to be evolving. According to Jim Cain, a spokesperson for General Motors, the company remains committed to EVs as a long-term goal but emphasizes that discussions on earnings calls now include a wider range of topics such as software, services, autonomous driving, and regulatory challenges. He noted that at least half of each call is reserved for questions and answers, allowing for deeper exploration of these areas. Ford's approach reflects similar sentiments. A spokesperson, David Tovar, highlighted the upcoming launch of its Universal Electric Vehicle platform, set for release in the coming year. He stated that the first model based on this platform, a midsize pickup truck, would target key aspects of the EV market, including cost, pricing, and technological features. The analysis excluded Stellantis, the third major automaker in the Detroit Big Three, due to its relatively slower pace of EV adoption and different schedule for earnings calls. Stellantis, formed from the merger of Fiat Chrysler and France’s PSA Group, historically trailed its U.S. competitors in EV initiatives. Additionally, prior to the first quarter of this year, the company conducted earnings calls only twice annually rather than four times, unlike most publicly traded firms. To conduct the analysis, Hudson Labs sourced earnings call transcripts from S&P Market Intelligence, spanning back to 2019. Using its Co-Analyst AI tool, the firm assigned specific topic tags to each sentence within the transcripts. These tags enabled researchers to track the frequency of particular subjects and determine their proportion of total discussion, ultimately producing visual representations of the data. General Motors took an early lead in the EV space, introducing the Bolt EV at the Consumer Electronics Show in January 2016 and launching it later that year, approximately six months before Tesla began delivering its Model 3. As GM increased its investments in EVs starting in 2019 and continuing into 2020, the subject gained prominence in its earnings calls. During this period, the company previewed new domestic models and outlined plans to transition Cadillac into an entirely electric brand. In the final two quarters of 2020, more than 100 mentions of EVs appeared on each call, accounting for roughly a third of the overall conversation. Following a temporary decrease in the first quarter of 2021, attributed to global semiconductor shortages, GM maintained a steady presence of EV-related discussions throughout much of the subsequent four years. Notably, during the tenure of President Joe Biden, the company dedicated approximately a quarter of each earnings call to EV topics. However, a further decline occurred in the first quarter of 2025, influenced by economic factors linked to former President Donald Trump’s policies. Despite these fluctuations, both GM and Ford continue to operate within the EV sector, albeit with adjusted strategies and communication approaches. Their current trajectories indicate a broader automotive industry recalibration, reflecting ongoing challenges and changing consumer dynamics in the electric vehicle market.