[0:05]Companies invested more than $200 billion into U.S. EV manufacturing across the U.S. through 2024, mostly in Republican areas, and much of it in the South.
[0:16]But now it's all in jeopardy. Automakers are canceling factories, cutting production, laying off workers, and shifting back to gas.
[0:23]The federal government has rolled back EV funding and is planning to relax emission standards.
[0:29]Now, some say automakers stand to lose $100 billion or more on their investments in the U.S.
[0:34]We've never seen anything like this in the auto industry before, ever.
[0:37]A big reason, demand has not met expectations.
[0:42]While our sales were growing on EV in the first quarter, and they were representing a significant amount in the fourth quarter, we saw more than 50% drop on EVs.
[0:54]That caused financial pain for for this investment.
[0:57]It's something that we have to, we have to live with now. Some say this is a blip, EVs are inevitable.
[1:02]The reality is that these vehicles are safer, are better for the environment, are faster.
[1:07]We could argue they're cooler. CNBC went to two Southern auto industry towns to see how EV fever affected local economies, and what happens when enthusiasm cools.
