When it comes to electric vehicles, Detroit was in denial for too long. Then it panicked and launched a flurry of flawed initiatives and hurried Hail Marys. That knee-jerk reaction is now costing the auto companies—and America—a fortune.

In December 2025, Ford announced a $19.5 billion write-down on its electric vehicle investments—one of the largest charges in corporate history. Ford killed the F-150 Lightning, the electric truck its executives not too long ago compared to the Model T. Days later, General Motors disclosed a $6 billion charge of its own. Just last week, Stellantis, the owner of the Jeep, Chrysler, and Dodge brands, announced its own colossal hit, taking a $26.5 billion write-down on its EV investments. In total, that is 50 billion dollars gone.