长期代表全球 EV 推进的 Tesla 现在预计会出现连续第二年的交付下滑；与之相对，Elon Musk 的重心已从追求一款 25,000 美元 EV 转向类人机器人和无人驾驶出租车。中国的 BYD 被预期在 2025 年超过 Tesla 成为最大的电池电动车（BEV）销售商，但其销量已连续三个月下滑；与此同时北京监管正加码审查价格行为。行业层面上，GM 已确认 1.6 billion 美元减值并警告可能继续削减 EV 产能，Stellantis 取消了全电动 Ram 皮卡并重启 V‑8 选择，Volkswagen 在 Dresden 停止了 ID.3 组装，这是其德国工厂 88 年来首次停产，并计提了与 Porsche 相关的 EV 退坡费用 4.7 billion 欧元（约 5.5 billion 美元）。
尽管这些挫折明显，管理层仍将 EV 视为长期方向：GM CEO Mary Barra 反复强调电池在根本上更优，其他高管也将 EV 定位为增长板块。欧盟政策调整后尾气排放约束仍然严格：2035 年要求的尾气减排目标由 100% 调整为 90%，并要求通过低碳或可再生燃料以及本地绿色钢来抵销额外排放。由此，行业转向更慢且更复合的技术组合，企业在汽油、混合动力与 EV 之间平衡投资，而不是一次性全线电动化。
The context portrays an EV transition that moved from rapid early growth to a contested, slower phase. In one week, the European Commission retreated from its previously strict internal-combustion-engine phase-out schedule, and Ford announced a roughly $19.5 billion charge tied to walking back its earlier all-in EV strategy—an explicit signal that incumbents are now repricing risk as demand momentum weakens.
Tesla, long the symbolic global champion of the EV push, is now expected to post its second straight year of delivery decline, while Elon Musk’s attention has shifted from pursuing a $25,000 EV to humanoid robots and autonomous taxis. China’s BYD is expected to overtake Tesla as the largest battery-electric seller in 2025, yet its sales have fallen for three consecutive months; regulators in Beijing are also scrutinizing pricing as competition intensifies. On the industry floor, GM has taken a $1.6 billion charge and warned of further EV-capacity cuts, Stellantis canceled a fully electric Ram pickup and revived V-8 options, and Volkswagen ended ID.3 assembly in Dresden for the first time in 88 years while booking Porsche-related EV pullback charges of €4.7 billion (about $5.5 billion).
Despite these setbacks, EVs are still treated as the long-term direction by management; GM CEO Mary Barra repeats that batteries are fundamentally superior, and other executives frame EVs as the growth segment. EU’s policy adjustment still leaves emissions targets stringent: tailpipe reductions are now set at 90% by 2035 instead of 100%, with offsets required through low-carbon or renewable fuels and locally produced green steel. The transition therefore shifts to a slower, more plural technology mix, with firms balancing gasoline, hybrid and EV investment rather than all-at-once electrification.