Electric vehicles charge in the parking lot of the Ultium Cells facility in Lordstown (Reuters)
Reuters found that 87 percent of announced EV-related investment was in states won by Trump in 2024, while about 80 percent of cancelled projects were in those states. Because much of the earlier investment went to Republican-leaning states, the reversal is notable. America’s electric vehicle manufacturing revival is losing momentum as billions of dollars in planned EV and battery investments are cancelled, delayed or scaled back amid weaker demand and President Donald Trump’s rollback of policies that supported the industry.
A Reuters investigation found that nearly $20 billion in EV-related projects were cancelled in 2025, while new investment announcements fell to about $6.5 billion from a peak of $55 billion in 2023. The cancelled projects had represented around 27,000 promised jobs, according to Reuters’ analysis of Atlas Public Policy data. The policy shift also affected companies that had expanded in anticipation of sustained government support. Ford, for instance, has moved to repurpose part of its planned EV manufacturing capacity for gasoline-powered vehicles, reflecting the changing economics of the US auto market. Trump’s broader push to roll back Biden-era EV policies has added uncertainty for automakers and battery manufacturers.
The administration has argued that the earlier incentives distorted the market by pushing consumers towards electric vehicles, while its policy now gives greater room for gasoline-powered cars and trucks.