"The legacy OEM’s are in a world of hurt, as can be seen by GM’s...

"The legacy OEM’s are in a world of hurt, as can be seen by GM’s back track. Unfortunately for them, it almost secures their future as a dinosaur with ICE vehicles destined to go the way of Kodak film."

There may be several factors at play here.

First up, despite being well into the EV environment, the consumer is still suffering lingering Range Anxiety - strange but true.

That coupled with, (or perhaps exacerbated from), poor infrastructure, has not helped with EV confidence or experiences.

While not a major factor on the dial, but another small contributor to the pain issue is, I believe that some of the government incentives have come off for the luxury high end EV market.

Then all the negative world macros are not exactly conducive to instilling confidence in the market and/or economy.

Wars
Commody prices
Interest rates
Supply chain issues
Skilled labour issues
Wages
...and even..
Weather

Sadly the list is long, but I do believe in cycles - especially the coming industry disruption SuperCycle.