DETROIT — It’s a “capital junkie” that’s been on a yearslong binge of unprecedented spending on all-electric and autonomous vehicles. And now, it’s waking up from the bender and entering rehab. Automakers from Detroit to Japan and Germany are attempting to lower costs and reduce expenses amid economic concerns, billions of dollars wasted on self-driving vehicles and a prolonged, if not uncertain, return on investment in EVs amid slower-than-expected adoption.
9 billion in expenses and cash expenditures. That included $400 million for the write-down of certain product-specific manufacturing assets. Rehab After years of spending, Nissan, Volkswagen and Stellantis are conducting massive business restructurings that include layoffs, production cuts and other cost-saving measures. Others such as Ford, GM, and EV startups Lucid and Rivian are attempting to lower costs but their efforts are not as severe as the others.