Billions burned: The great EV reckoning

It's time to check in on the state of electric vehicles both in America and abroad—and how much money automakers have lit on fire in the last few years rushing to cash in on electrification, which… hasn’t really paid off. Now, it feels like a big correction is underway. Car companies spent most of 2025 in a wait-and-see position, but now they’ve waited and seen enough, and started to make big moves. Ford killed its once-revolutionary F-150 Lightning pickup, Honda killed its next-gen EVs that were supposed to be built and sold in America and lost over $15 billion in the process, GM has paused development of its next-gen electric trucks, Nissan’s walked things back and shifted directions, Volvo’s killed an entire model line, and more. It’s a wild and wildly expensive time to be an automaker, and the decisions being made now will have long-lasting effects on the shape of the global auto industry for years. This week it's The Drive's Editor-In-Chief Kyle Cheromcha and Director Of Content And Product Joel Feder discussing the state of the EV union—how automakers are reacting to the uncertainty, whether they’re over-correcting, and what comes next. Stories mentioned in today's episode: Stellantis’ EV Retreat Cost the Automaker $26.5 Billion: TDS Ford’s EV Gamble and Bust Will Cost the Automaker $19.5 Billion: TDS GM CFO Says Automaker Can Absorb EV Losses: TDS Honda Kills Three US-Built EVs Before They Ever Launch, Taking up to $15 Billion Loss Ford’s Never-Seen, Canceled Moonshot EV Has Been Hiding in Plain Sight Online for a Year 00:00 Intro 08:13 Who burned how much? 08:34 Stellantis 13:38 Ford 18:42 Honda 24:04 GM 31:05 VW Group 34:38 Nissan 36:36 Toyota 38:04 Mercedes-Benz 39:02 BMW 39:12 Volvo 40: 18 Tesla 41:35 Rivian Learn more about your ad choices. Visit megaphone.fm/adchoices