This Is Why So Many EVs Are Getting Canceled
Anybody who pays close attention to the electric-car space expected a shift once the EV tax credit and other regulations vanished. But I’m not sure anybody thought manufacturers would blow up this many plans, this quickly.
In just about the last week, Honda axed plans for three new built-in-America models, Volvo canned the EX30, and Hyundai said it would stop selling the standard Ioniq 6 (everything but the hotted-up N version, that is). Those are just the latest in a tsunami of reversals that claimed existing models like the Ford F-150 Lightning and Acura ZDX, along with future models that now won’t see the light of day for a long time.
Why is this all happening? Mack Hogan and I break it down on this week’s Plugged-In Podcast, available on audio platforms and YouTube. We talk about the EVs that probably deserved it, and which we think might be next to get a knock from the Grim Reaper.
In a way, this marks the end of the “first-draft era” for EVs. Some canceled models just proved to be the wrong product at the wrong time, and lacked the juice to compete without incentives. I think the pricey F-150 Lightning and Volkswagen ID. Buzz fall into that category (though the latter is just skipping a model year, not canceled outright.) It’s not surprising either to see sedans like the Ioniq 6 and Tesla Model S meet their end in a market that’s craving SUVs in particular.
Some seem like they only existed to satisfy regulations that are now weaker or nonexistent. Still, some decisions are more head-scratching—like Honda’s call to scrap its first fully in-house EV project months before the start of production. The whole trend raises real questions about which companies will lead the future of this industry.
Honda yanked three EVs from its plans, including a car based on the 2024 Saloon concept
Which EVs are probably next? Well, you’ll have to listen to the show to find out.
This week, we also talk about the BMW i3, whether VinFast can make it in the U.S., the Lucid Cosmos, and whether eye-watering gas prices could nudge more people into EVs—particularly used ones.
As always, if you have suggestions for the show or questions you’d like us to answer on air, drop me a line: Tim.Levin@InsideEVs.com
