America is falling behind in the global EV race – that’s going to cost the US auto industry
At the 2026 Detroit Auto Show, the spotlight quietly shifted. Electric vehicles, once framed as the inevitable future of the industry, were no longer the centerpiece. Instead, automakers emphasized hybrids, updated gasoline models and incremental efficiency improvements.
The show, held in January, reflected an industry recalibration happening in real time: Ford and General Motors had recently announced US$19.5 billion and $6 billion in EV-related write-downs, respectively, reflecting the losses they expect as they unwind or delay parts of their electric vehicle plans.
The message from Detroit was unmistakable: The United States is pulling back from a transition that much of the world is accelerating.


