Automakers that pushed back 2024 electric vehicle goals and plans

several Leading car manufacturers adjusted their electric vehicle (EV) targets and reduced their plans for 2024 in response to weak consumer demand for electric vehicles in the auto market.

Automakers aren't giving up on electric vehicles, and they still see them as an important part of their lineup going forward, but they've scaled back some of the previously announced ones. EV production goals And some have changed their operating plans in response to consumer demand.

According to data from S&P Global Mobility, car buyers have increased interest in hybrid vehicles in recent years, with sales growing faster than electric vehicles in 2023.

A May 2024 study by JD Power found that consumers are slightly less likely to consider buying an electric car than they were a year ago, with the main reason for concern They do not have a charging station.

Increasing sales of hybrid cars with the demand for electric cars

Here's a look at how some of the leading automakers have tweaked their EV plans for 2024.

General Motors

General Motors CEO Mary Barra It said in July that the company is pulling back its Orion electric truck assembly plant for six months through mid-2026 and plans to introduce plug-in hybrid vehicles in 2027.

In July, GM cut its projected EV output for 2024 to 250,000 units from a forecast of 300,000 units. It also declined to repeat its target of 1 million units of EV production capacity in North America by the end of 2025.

Many US consumers stay away from EVs due to lack of access to charging: report

Toyota

this The world's largest car manufacturer It announced in October that it was pushing back plans to build electric cars in the U.S. until 2026 after targeting late 2025, according to a Reuters report.

The Nikkei business newspaper reported in September that Toyota has also changed its plans to build 1 million electric vehicles by 2026 instead of the previously announced target of 1.5 million. Toyota said in a statement that it still aims to produce 1.5 million electric vehicles a year by 2026 and 3.5 million electric devices a year by 2030, but said those figures are benchmarks rather than targets.

Volvo reversed its goal to make only electric cars by 2030

Volvo

The Swedish automaker announced in September that it was abandoning its plan to go all-electric by 2030, as it still expects to produce hybrids by then.

The company said in a statement that it now plans to make up 90 to 100 percent of its 2030 global sales volume from fully electric vehicles and plug-in hybrids, allowing the remaining 0 to 10 percent of its lineup for a limited number. If needed, mild hybrid models will be sold.”

Ford

Ford announced In August, it scrapped production plans for an all-electric three-row SUV, opting instead for hybrid technologies for the Detroit-based automaker's next three-row SUV. The company had already announced in April that it would delay the launch of the new SUV from 2025 to 2027.

The company also updated its North American vehicle electrification strategy and roadmap, announcing plans to launch an all-electric commercial van in 2026 and a pair of electric vans the following year.

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Bentley

The luxury automaker announced in November that it was pushing back its plan to transition to a battery-electric lineup from 2030 to 2035, adding that it would continue to make plug-in hybrids until then.

Bentley plans It will launch its first all-electric model – what it calls an “urban luxury SUV” – in 2026.

FOX Business's Aislin Murphy and Reuters contributed to this report.