Ford Burns Through Billions, Expects to Lose $12 Billion on Electric Vehicle Line

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Despite the losses, Ford continues to push forward and hopes to manufacture two million EVs a year by 2026 and hit an 8% profit margin for its EV division. The company is chasing Elon Musk’s Tesla for EV sales in the U.S. and remains far behind the electric car giant. Tesla, which started in 2003, lost money for ten years before finally turning a profit in 2013. Musk’s company made $12.6 billion in 2022, an impressive jump from $5.5 billion in 2021.

They don’t care. As long as the Democrats are running/ruining the economy with their environmental/climate garbage, it’s the American  taxpayer that will have to pay for this mess.

Wall Street Journal: Ford Motor Co. expects to lose about $3 billion on its electric-vehicle business this year, a reminder of how far traditional auto makers have to go in turning their EV portfolios profitable. Ford disclosed the figure Thursday while outlining a new financial-reporting structure intended to give investors better insight into the performance of its three business units. Ford finance chief John Lawler described the EV division as a startup inside the 119-year-old company, and said it is normal for a fledgling business to rack up losses. Ford shares were down about 1.3% in afternoon trading Thursday (Wall Street Journal). Daily Wire: Ford plans to explain its financials in more detail to investors and how it will stick to its goal of selling only zero-carbon emission vehicles by 2040. Ford is relying on Ford Blue, its gas-powered vehicle production, to fund the carmaker’s transition to EVs (Daily Wire).
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armaros
armaros
1 year ago

People don’t want this crap
This is a Cult that wants to end cars by pushing the expensive and unreliable EVs
Americans want v6 and v8-powered cars.
EVs can be useful as cabs or delivery/service cars in dense cities but outside of those they lose all practicality.
The problem is that the Boards of GM, Chrysler, and Ford have been fully infiltrated by the ESG and Climate Cult fanatics who are running these companies to the ground.
Once almost bankrupt they will sell them to China and pocket their “commissions”

danknight
danknight
1 year ago

No. I will never drive a coal-fired car with a black-child-slave battery made on the China-communist slave plantation …

… and if that ain’t clear …

No way I will contribute to increasing the totally safe but unnecessary emissions of carbon dioxide while helping the Chi-com’s Lefty puppets destroy our energy industries …

G-d bless …

PatDD
PatD
1 year ago

Because electric is NOT the way to go!!!!!

Snowedin
Snowedin
1 year ago

The EV’s are a losing proposition. It is a way for the NWO to limit our travel, freedom, and give them more control over our lives. Their intention is to get us all into 15 minute cities.

Grendel
Grendel
1 year ago

This “electric vehicle” nonsense was tried before, over 100 years ago.
Did not work then …. will not word now.
Yes, electric car technology has gotten better ….. so has internal combustion …. but the Laws of Physics do not change.

Do a search for “electric cars 1890 1930”

There were many electric car companies ….. where are they now?
Those that survived started making something else …. like sewing machines.

Duane Hayes
Duane Hayes
1 year ago

Electrics are not sustainable since there’s no market for used one’s with expired batteries

HardrockD
Hardrock
1 year ago

If you have an EV and the government wants to punish/control you or your neighborhood. They can shut off your power so you cannot charge your vehicle. They can further control what is going on in the 15 minute city. They will better control how fast and far you can drive in your EV. It’s all about control, they don’t really care about the environment or the climate.

Don39D
Don39
1 year ago

But we the sane pay for it when we have to buy a sane automobile!

Don39D
Don39
1 year ago
Reply to  Don39

There are many reasons why the notion of electric vehicle is insane, not the least of which is those that build them and drive them and want to destroy society, ours and the worlds, with them!

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