What’s really going on with ICE vs EV technology in the car industry?

Are car makers really giving up on EVs and redirecting their efforts back to ICE (internal combustion engines)? There’s a lot of buzz and confusion over a recent announcement by Japanese automotive giants Toyota, Subaru, and Mazda confirming their joint commitment to continue developing ICE technology. But what does this mean for the future of mobility, and why are these manufacturers investing in internal combustion engines now?