American automaker Ford is scaling back plans to build a massive electric vehicle plant in Michigan amid rising labor costs and decreasing demand for electric vehicles. Consumer demand for electric vehicles has dropped significantly in recent months, thanks to high EV costs coupled with rising interest rates. These issues are forcing automakers such as Ford and Tesla to make significant changes in an attempt to remain competitive.
However, even lower prices and government incentives haven’t been enough to convince buyers to purchase battery electric cars (BEVs). Car dealerships are…
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