The announcement amounted to an admission by Ford that it had overestimated demand for battery-powered vehicles and underestimated the staying power of vehicles powered by gasoline and diesel. Other big automakers, including General Motors and Stellantis, have also recently changed their plans and placed a far greater emphasis on combustion engine vehicles and hybrids.

The U.S. auto industry’s move away from electric vehicles is also a result of a reversal in government policies since President Trump took office in January. His administration has slashed government incentives for electric vehicles while promoting fossil fuels. This month, the administration announced plans to significantly weaken fuel economy standards, which would reduce automakers’ incentive to make electric cars.

This is the nut of it.

We had a public incentive to shit our method of engine manufacture to all electric and now we don't.

The federal government is artificially subsidizing fossil fuel production and consumption, while penalizing wind and solar as well as lithium battery production.

But don't be too worried folks. At the end of the day, we're gutting the consumer economy with stagflation anyway.

Degrowth, baby! That's Trump's future.