Automakers Overestimated EV Demand, Says Former Ford CEO Mark Fields
Former Ford CEO Mark Fields says US automakers overestimated consumer demand for electric vehicles. Fields claims manufacturers invested heavily in EV capacity without understanding what would drive consumer adoption.
Former Ford CEO Mark Fields has delivered a stark assessment of the automotive industry’s electric vehicle strategy, stating that manufacturers “went full bore” into EV production without adequately considering consumer demand. The comments come as major automakers face significant challenges in the EV market, with several scaling back ambitious production targets and taking substantial financial charges.