GM and Ford Shift Investor Focus Away From EVs on Earnings Calls, Analysis Shows

General Motors and Ford have significantly reduced the amount of time dedicated to electric vehicles during their quarterly earnings calls with investors, according to an analysis by TechCrunch and financial research firm Hudson Labs. The data indicates EV discussions at both major American automakers have dropped below pre-pandemic levels following recent strategy shifts, regulatory changes, and revised production plans.

What Happened

An examination of seven years of earnings call transcripts sourced from S&P Market Intelligence revealed a decline in how often executives at General Motors and Ford discuss electric vehicles. Hudson Labs utilized its artificial intelligence research tool, Co-Analyst, to categorize and track topic frequency across transcripts dating back to 2019.

During the Biden administration, both automakers routinely spent approximately one-quarter to one-third of each quarterly investor check-in discussing electric vehicle strategies. This period was supported by federal incentives, EV manufacturing credits, and policy funding for charging infrastructure. However, both companies have since altered, delayed, or canceled several planned EV projects, leading to workforce layoffs and scaled-back manufacturing facilities.

The decline in EV discussions became pronounced following political and regulatory changes in the United States. After President Trump returned to office, federal environmental regulations incentivizing zero-emission vehicles were reduced, and the $7,500 federal EV tax credit was removed. Consequently, earnings call discussions shifted toward trade policies, tariffs, operating performance, capital allocation, and higher-margin internal combustion models, such as Ford’s gas-powered F-Series trucks.

Key Highlights

• GM Earnings Call Shift: References to electric vehicles on GM investor calls dropped from 82 mentions in the second quarter of 2025 to 21 mentions in the second quarter of 2026.
• Ford Strategy Pivot: Ford began scaling back discussions about major EV investments in mid-2024 to focus on a skunkworks project that developed its upcoming Universal Electric Vehicle platform.
• Impact of Policy Changes: Earnings call topics were impacted by trade policies, including President Trump’s “Liberation Day” tariffs in early 2025 and the rollback of the $7,500 federal tax credit.
• Historical Reference Peak: In late 2020, GM made over 100 EV references per call, with electric vehicles representing roughly one-third of the total quarterly discussion.
• Exclusion of Stellantis: Stellantis was excluded from the study because it historically lagged behind US counterparts in EV adoption and previously held earnings calls only twice a year until early this year.

Why This Matters

The reduction in EV-focused discussion reflects an operational realignment by Detroit’s largest automakers in response to changing government regulations, market dynamics, and corporate priorities. Although GM previously aimed to transition toward an all-electric lineup by 2035, its public messaging now focuses more on aligning manufacturing capacity with regulatory policy shifts.

GM spokesperson Jim Cain noted that “quality counts more than quantity” in investor communications, explaining that while EVs remain the ultimate goal, executive calls must also cover software, autonomous technology, trade policies, and operating performance. Ford spokesperson David Tovar highlighted that Ford is focusing on cost efficiency and market positioning through its planned midsize electric pickup truck platform.

What to Watch Next

Ford plans to launch its new “Universal Electric Vehicle” platform next year, starting with a midsize pickup truck aimed at balancing cost, price, and technology. CEO Jim Farley stated that the company plans to become a scaled competitor in affordable electric vehicles. Meanwhile, GM is continuing investment in technologies like lithium manganese-rich (LMR) batteries to improve future profitability while adjusting to regulatory requirements.

Frequently Asked Questions

Why are GM and Ford talking less about electric vehicles on earnings calls?

Both automakers have adjusted their investor discussions following changes in federal regulations, the elimination of the $7,500 federal EV tax credit, new tariff policies, and a heightened focus on capital allocation and higher-margin vehicles.

How was the earnings call analysis conducted?

Financial research firm Hudson Labs analyzed earnings call transcripts from S&P Market Intelligence dating back to 2019 using an AI tool named Co-Analyst to track and count sentence-level references to EV topics.

Are GM and Ford abandoning electric vehicles entirely?

No. Both companies continue to sell electric vehicles and maintain active product pipelines, including Ford’s upcoming Universal Electric Vehicle platform and GM’s ongoing investments in lithium manganese-rich battery technology.

Source: TechCrunch report based on financial research by Hudson Labs.