Full list of the 12 biggest carmakers making massive U-turn over ‘doomed’ EV targets

THE global car industry is facing a difficult moment, as many brands rethink their plans for electric vehicles.

At least 12 major carmakers have recently scaled back earlier commitments to go fully electric, including some of the world’s best-known luxury and performance names.

Their main reasons are that demand for combustion engined motors remains stronger than expected, while buyers have been slower to embrace EVs.

What’s more, supportive government policies in the US and Europe have weakened.

And together, these pressures are forcing manufacturers to revise timelines, keep petrol and hybrid models on sale for longer, and in some cases cancel or delay EV launches.

Honda is perhaps the biggest and most shocking example – after the Japanese marque announced recently it was dropping its plan to stop making combustion engine cars by 2040.

Now, it expects its EV strategy overhaul to result in $16bn in losses over the next two years.

Mercedes-Benz, Ford, Stellantis and Volvo are other big names who’s chopped and changed, all having reduced or softened their all-electric ambitions.

And luxury brands are especially cautious, with Rolls-Royce, owned by BMW, now deciding it will continue producing petrol engine cars beyond 2030.

Put simply, Chris Brownridge, chief executive of Rolls-Royce Motor Cars, said: “During the time since Rolls-Royce Spectre launched, the world has changed.”

Bentley, Lotus, Audi and Porsche have already scaled back their own earlier plans to become fully electric, or 80 per cent electric, over the coming decade.

Instead, many are extending the life of plug-in hybrids, suggesting they see hybrids as a more practical bridge between traditional engines and full electrification.

Rolls-Royce launched the all-electric Spectre in 2023, making it one of the first luxury carmakers to do so.

Bentley still plans to launch its first electric car next year, although that’s two years later than originally intended.

Lamborghini, which is owned by Volkswagen, have been particularly brutal; abandoning their plan to launch its first fully electric model, the Lanzador, by 2030.

That car will now be a plug-in hybrid, instead.

“The rejection rate of the full electric cars is increasing,” said the Italian supercar brand’s chief executive, Stephan Winkelmann.

“The emotional part [of a Lamborghini] is the vibration of the car, how you steer, how you brake and one of the biggest [factors in] the rejection of fully electric cars was the missing sound of the engine.”

Lambo’s great rival, Ferrari, is taking a more mixed approach.

The Prancing Horse cut its 2030 EV production target by half – perhaps indicating caution – but it is still moving ahead with its first electric model, expected to be named the Ferrari Luce.

The company says it wants to preserve the same “driving thrill” whether a Ferrari is petrol, hybrid or fully electric, with chief executive Benedetto Vigna repeatedly saying Ferrari would not force customers to lose the familiar sound of its petrol engines.

Indeed, the luxury sector’s transition to EVs has been particularly slow, even though some brands have already begun introducing electric models.

The wider political backdrop is an important part of the problem, as since Donald Trump returned to power, his administration has removed federal tax credits for EV buyers in the US, reduced spending on charging infrastructure and weakened emissions targets.

But the EU has also softened its own emissions rules.

According to calculations from the Financial Times, changes to EV strategies, including cancelled car launches and investment plans, have cost the global car industry at least $75bn in the past year.