Business Technology Equipment Major Automakers Recalibrate on Weak EV Demand A Lexus LF-ZC electric concept vehicle in Beijing. (Qilai Shen/Bloomberg) May 29, 2026 9:48 AM, EDT Key Takeaways: Development of the next‑gen Lexus LF‑ZC EV has been stopped, despite plans for a 2027 launch and advanced features like gigacasting and faster‑charging batteries. The decision highlights how weakening demand and fading U.S. subsidies are forcing automakers to scale back EV ambitions and reassess targets.