Tesla Joins GM and Ford in Slowing EV Factory Ramp Amid Concerns Over Demand


Summary: Tesla, GM, and Ford are exercising caution in expanding electric vehicle production due to economic uncertainties and fears of a slowdown in demand.

Tesla CEO Elon Musk expressed concerns about higher borrowing costs and their impact on customer affordability, leading the company to delay the expansion of its planned factory in Mexico. Other automakers, including GM and Ford, have also announced delays and production cuts for their electric vehicle models. EV startups Lucid and Rivian have reported decreases in production and raised concerns about demand. Industry analysts believe that the slowdown in EV demand is more related to pricing and affordability than a rejection of EVs.

Tags: Electric Vehicles, Tesla, General Motors, Ford, Demand, Production, Economic Uncertainties, EV Startups