General Motors Reaffirms EV "End Game" as U.S. Automakers Gain Time to Fund Transition

Highlights

• GM CEO Mary Barra reaffirms EVs as the long-term goal while acknowledging the U.S. transition will take decades
• IEA projects EVs will reach nearly 28% of global new-car sales in 2026, even as U.S. adoption slows
• Used EV wholesale values rose 11.4% year over year in May 2026, driven partly by elevated gasoline prices
• A slower U.S. transition gives automakers time to build capital from ICE and hybrid profits, but China is not waiting
• The NdPr-to-NdFeB magnet supply chain remains unready for rapid conversion, with qualification timelines spanning years