The Big EV Push Flopped. It's Time to Hedge Our Bets

There's one simple reason automakers like Ford and GM are stepping back from their ambitious EV plans: their customers.

Contrary to the exuberant predictions of Elon Musk, environmental groups, and other industry and government “experts," the love affair between EVs and the American consumer seems to have fizzled after a honeymoon period of robust sales volumes.

Turns out these relatively pricey novelties just aren't as appealing anymore, especially when hybrids offer most of the efficiency without the range anxiety.

A look at the change in market share makes it clear that the process of going all in — or even mostly in — on EVs is going to take decades rather than years.