This is not quite correct, as demand is obviously price dependent. With the exception of Tesla, there IS a lack of demand for EVs that are priced at a level that allows profits. That’s the central problem facing OEMs. This is exacerbated by the fact that, for the most part, the OEMs are selling gas and electric versions of the same models, with the latter at a substantially higher price.This makes it tough to sell the electric version
For example, the gas F150 starts at $35K. The electric version at $50K. The Mustang ICE starts at $31K, while the EV version is at $41K. You have to be a pretty good salesman to sell the electric version when the much cheaper gas version is sitting in the lot. That’s a huge disadvantage for the OEMs when it comes to EV sales.
Therein lies the genius of the cybertruck. Tesla at this point in time cannot make an electric mirror-image of the F150 that would be profitable at $35K. Instead, it created something very different in order to justify a higher price point.
The OEMs currently lose money on every EV they sell. A lot of money. The dealers know that they are losing a lot of future service profits whenever they sell an EV over an ICE. It is actually pretty remarkable that EVs are growing as fast as they are when the motivation to sell them by most of the major players is so weak.