US Automakers Abandon EVs for Battery Storage as Profits Beckon

As US automakers struggle with the high costs of EV manufacturing and eroding profit margins, they're pivoting to battery energy storage—where government incentives favor domestic production. This strategic shift, epitomized by Ford's spin-off of Ford Energy, could provide manufacturers with a more profitable transition path as EV sales incentives disappear but battery storage credits remain. The move signals a pragmatic retreat from ambitious electrification timelines, prioritizing shareholder returns over market transformation.