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General Discussion / How to lose billions on EVs
« Last post by Ptarmigan on May 12, 2024, 08:48:43 PM »How to lose billions on EVs
https://www.americanthinker.com/blog/2024/05/how_to_lose_billions_on_tvs.html
Subsidizing EVs is costing billions.
https://www.americanthinker.com/blog/2024/05/how_to_lose_billions_on_tvs.html
Quote
Senator Everett Dirksen said: “A billion here, a billion there, pretty soon you’re talking real money.” Our federal government has been talking trillions for some time now, but the Mummified Meat Puppet Administration’s (MMPA) push for electric vehicles has EV manufacturers talking, and losing, billions.
MMPA mouthpieces like Transportation Secretary Pete Buttigieg and Energy Secretary Jennifer Granholm assure us EVs are the future and they’re pushing unconstitutional, unrealizable regulations to force that future down our throats. Unfortunately for them, economic reality is intruding, and Ford provides a disturbing example:
The recent figures are part of a trend of loss for Ford, with their Model e reporting a full-year EBIT loss of $4.7 billion on the sale of 116,000 units. This is an average loss of $40,525 per vehicle — and even that is just a third of the per-vehicle loss seen in the first three months of 2024.
Ford announced months ago it was cutting EV production in half. It took them well over a year, and a $4.7 billion dollar loss—I suspect it’s more—to finally, barely, acknowledge their fiscal responsibilities to their shareholders. What company can afford to sustain those kinds of losses, regardless of their fealty to the MMPA and it’s socialist/communist policies? It would now seem likely Ford is going to have to do more than halve their EV production:
Ford announced earlier this month [April] that the company will delay producing two new electric models, opting for hybrid vehicles instead.
Subsidizing EVs is costing billions.