Ford Scales Back Michigan Battery Plant Investments
Expect to see media outlets bashing Ford for scaling back EV investments in the near term. You’ll also probably notice the stock market reacting unfavorably to the news for a time. In fact we saw the brand’s valuation slip a bit almost immediately after the two announcements were made. But Ford actually seems to be making the correct choice for itself here, even if Wall Street is blind to the fact. The automaker’s electric vehicle division is projected to lose $4.5 billion by the end of 2023 and wastes an estimated $36,000 on every EV it currently sells.
“[…] and wastes an estimated $36,000 on every EV it currently sells.”
People in government, who have never had to contribute to a bottom line just to keep their jobs, and activists whose job is being paid professional complainers, having never produced anything of value, will insist that Ford can make up that $36,000 per vehicle loss in volume.
I might mention that those are people who are also advocates for “Magical Economics” where the money for everything they demand just – POOF! – appears out of nowhere.
I’m sure all of the watermelons in government regulatory agencies will do all they can to punish Ford for having the unmitigated gall to want to survive as a company.
The agencies will punish Ford for speaking the truth, not for wanting to survive. Narrative is everything, and the only thing.
Well … the people who say Ford will make up their losses in volume have it partially right. They’ll make it up in volume of ICE automobiles. You don’t honestly believe Ford is eating $36,000.00/EV sold, do you? Nonsense.
You thought that a $100,000.00 F250 Limited pickup truck was due to inflation? Supply chain issues? Nonsense. Ford needs to offset EV losses by jacking up ICE pricing.
Cars are so passe.
Sooner than later, city dwellers will all be taking the battery bus or electric train.
When they’re operational.
And only within their designated 15 minute sector.
Or they can walk or ride a bicycle.
It’ll be fun…getting groceries, taking their kids to their activities, like Tranny hockey.
In January.
Electric busses or any form of transportation that is not hard wired ie Trolly cars in TO, will fail. Not worth spending ten cents on.
Ford et al. can pound salt. They are stupid for buying into the EV nonsense. The only thing I feel bad about is all the money they will get from us vis a vis massive government subsidies.
“Ford et al. can pound salt. They are stupid for buying into the EV nonsense. The only thing I feel bad about is all the money they will get from us vis a vis massive government subsidies.”
Toyota was the only car manufacturer I can think of that did not buy into the EV hype, and they took massive flak for it.
They have had no choice … due to absurd CAFE fleet mpg requirements. FJB
Yet Canada continues to pour Billions into the battery plant give aways for the Liberal vote rich golden horseshoe area.
I wonder what each Liberal vote will cost the actual productive areas of Canada.
Ford is not the only one.
GM has done the same thing.
no more EV’s Period.
Why..??
Lots of reasons:
Initial Cost: A Lightening sells for ~ 100k Range
Useless in Winter
Cant tow squat
Expensive charging…if you can even find one not in use.
Avg cost of battery replacement: 50k
ZERO used market.
Spontaneous combustion.
Think I’ll stick with my 16 yr old 20mpg Duramax…
I’ll stick to my 32mpg 4cyl ’08 Tacoma.