EVs Take a Backseat at GM and Ford

In a surprising shift, General Motors and Ford are discussing electric vehicles less frequently on their quarterly earnings calls. According to an analysis of the last seven years of earnings calls by TechCrunch and Hudson Labs, both companies have scaled back their focus on EVs, despite still selling them and having new models in their pipelines.

The Data Speaks: A Dramatic Decrease in EV Discussion

As of 2019, General Motors was betting big on mass-market EVs, debuting the Bolt EV at the Consumer Electronics Show and putting the car on sale by the end of the year. The company's investment in EVs ramped up in 2020, with more than 100 references to electric vehicles on each of its last two earnings calls. However, this focus began to wane after the 2024 election, with EV mentions dropping from 82 on the second-quarter call in 2025 to just 21 on its most recent call covering Q2 2026.

Ford's first serious entry into the world of mass-market EVs was the Mustang Mach-E, which debuted in late 2019. As the company got closer to delivering the first models in late 2020, it started talking more and more about electric vehicles on its earnings calls. However, Ford began talking less about EVs before the 2024 election, and the trend continued after the election, with CEO Jim Farley spending more time discussing support for the president's protectionist trade policy and the company's near-term focus on its higher-margin gas F-Series trucks.

A Shift in Focus

While GM remains the second-largest seller of EVs in the U.S., the company that once made the lofty promise to go all-electric by 2035 is now talking more about how it has 'aligned' its EV capacity and manufacturing footprint with the changes in regulatory policy. Ford, on the other hand, is shifting its focus towards the development of its Universal Electric Vehicle platform, which it believes will become a major scaled competitor in the EV market.

The Future of EVs at GM and Ford

The shift in focus at GM and Ford is a significant change from just a few years ago, when both companies were heavily investing in EVs and talking about them extensively on earnings calls. While the companies still have a presence in the EV market, their focus has shifted towards other areas, such as software and services, and autonomous technology.

"Quality counts more than quantity," said Jim Cain, a spokesperson for GM. "We've been very clear and consistent in communicating our view that EVs are the end game, the strength of our portfolio today, the loyalty of EV customers to the technology, awards we've won, our growing EV market share, and our commitment to continue investing in technologies like LMR (lithium manganese-rich) to improve profitability."

"We think the first product rolling off the line, a midsize pickup truck, will hit the sweet spot of the EV market for cost, price, and technology," said Ford spokesperson David Tovar.

• While GM remains the second-largest seller of EVs in the U.S.
• Ford is shifting its focus towards the development of its Universal Electric Vehicle platform
• Both companies have scaled back their focus on EVs on quarterly earnings calls
• The shift in focus is a significant change from just a few years ago, when both companies were heavily investing in EVs and talking about them extensively on earnings calls