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Posted on EVANNEX on April 01, 2020 by Charles Morris

This time they're serious—after two decades of compliance cars and canceled EV programs, the legacy automakers are finally "committed to an electric future." GM CEO Mary Barra recently announced $20 billion of investment in electrification projects, along with plans to produce a million EVs over the next few years. Ford Executive Chairman Bill Ford has repeatedly said his company is "all-in" on EVs (in 2009, and again in 2018).

And of course, once these industrial giants devote their financial resources and their economies of scale to producing EVs, tiny Tesla won't have a chance. The most recent wave of "Tesla killers" may have harmlessly lapped at the shore, but this one will be a real tsunami!

Can this be true? Is the end of the Oil Age at hand? Well, there are certainly some encouraging signs. For the first time, Big Auto is planning to build electric versions of the models consumers are actually interested in buying—SUVs and, in the US, pickup trucks. And some of the global brands are beginning to show some interest in actually marketing their EVs (at least during the Super Bowl). On the other hand, the vast majority of the new investment that's been announced is for the Chinese market, and GM, for one, is still doing its best to get US emissions standards watered down.