Can Detroit automakers keep the profits coming as EV battery costs rise and interest rates remain high?
GM and Ford both rely on sales of pickup trucks and SUVs in the United States for the bulk of their global profits. This year, both automakers plan to ramp up sales of much less profitableThe risk to the Detroit automakers' profitability would be a challenge in the best of times. But now, GM and Ford must factor in forecasts for a slowdown, or even a recession, in the U.S. economy.
EV battery raw material costs are rising, but U.S. EV market leader Tesla is cutting prices on its best-selling
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