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<blockquote data-quote="Weather Man" data-source="post: 16655887" data-attributes="member: 137766"><p><a href="https://seekingalpha.com/news/3730999-detroit-auto-giants-expect-strong-truck-and-suv-demand-even-as-ev-transition-plays-out" target="_blank">Detroit auto giants expect strong truck and SUV demand even as EV transition plays out</a></p><ul> <li data-xf-list-type="ul">Automakers in North America are not pulling back from plans to <a href="https://www.reuters.com/business/autos-transportation/detroit-sticks-with-trucks-suvs-despite-lofty-2030-goals-evs-2021-08-16/" target="_blank">build</a> more large big pickup trucks and sport utility vehicles than electric vehicles well into the late part of this decade, according to Reuters. Internal production forecasts indicate that demand for pickups and SUVs will stay strong even as the government supports the EV industry and sets lofty sales goals.</li> <li data-xf-list-type="ul">While Ford (<a href="https://seekingalpha.com/symbol/F" target="_blank">F</a> -0.9%) General Motors (<a href="https://seekingalpha.com/symbol/GM" target="_blank">GM</a> -1.3%) and Stellantis (<a href="https://seekingalpha.com/symbol/STLA" target="_blank">STLA</a> -0.8%) issued a joint statement of support for the Biden Administration's target for EV sales to account for 40% to 50% of production by 2030, production plans at the moment are for 2.6M battery electric vehicles and 585K plug-in hybrid EVs in 2028, which amount to an estimated 18% of all production. Unless those numbers change dramatically, EV and PHEV production would have to double between 2028 and 2030 in order to hit the low-end EV target of 40% of production. Strong demand for electric versions of popular truck lines like the Ford F-150 or Chevy Silverado could also help the EV target be more achievable.</li> <li data-xf-list-type="ul">GM has been investing heavily in its EV future, but regular truck plants have not been ignored <a href="https://seekingalpha.com/news/3644170-gm-invests-in-plants-to-keep-up-truck-demand" target="_blank">with the company's capital expenditure spending.</a></li> </ul></blockquote><p></p>
[QUOTE="Weather Man, post: 16655887, member: 137766"] [URL='https://seekingalpha.com/news/3730999-detroit-auto-giants-expect-strong-truck-and-suv-demand-even-as-ev-transition-plays-out']Detroit auto giants expect strong truck and SUV demand even as EV transition plays out[/URL] [LIST] [*]Automakers in North America are not pulling back from plans to [URL='https://www.reuters.com/business/autos-transportation/detroit-sticks-with-trucks-suvs-despite-lofty-2030-goals-evs-2021-08-16/']build[/URL] more large big pickup trucks and sport utility vehicles than electric vehicles well into the late part of this decade, according to Reuters. Internal production forecasts indicate that demand for pickups and SUVs will stay strong even as the government supports the EV industry and sets lofty sales goals. [*]While Ford ([URL='https://seekingalpha.com/symbol/F']F[/URL] -0.9%) General Motors ([URL='https://seekingalpha.com/symbol/GM']GM[/URL] -1.3%) and Stellantis ([URL='https://seekingalpha.com/symbol/STLA']STLA[/URL] -0.8%) issued a joint statement of support for the Biden Administration's target for EV sales to account for 40% to 50% of production by 2030, production plans at the moment are for 2.6M battery electric vehicles and 585K plug-in hybrid EVs in 2028, which amount to an estimated 18% of all production. Unless those numbers change dramatically, EV and PHEV production would have to double between 2028 and 2030 in order to hit the low-end EV target of 40% of production. Strong demand for electric versions of popular truck lines like the Ford F-150 or Chevy Silverado could also help the EV target be more achievable. [*]GM has been investing heavily in its EV future, but regular truck plants have not been ignored [URL='https://seekingalpha.com/news/3644170-gm-invests-in-plants-to-keep-up-truck-demand']with the company's capital expenditure spending.[/URL] [/LIST] [/QUOTE]
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