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GO WOKE, GO BROKE: Ford Motors Losing Billions on Electric Vehicles

One good thing about investing in a Joe Biden policy is that is a tax write-off. It is also temporary. Over the past two years, Ford has lost at least three billion dollars on electric vehicles and they are expecting to lose just as much this year alone. Ford does not expect to make a profit until 2026. The problem with that is numerous, to say the least.

In the first place, electric vehicles are ungodly expensive, and buying a used electric vehicle is even worse because when the battery goes, it will set you back up to $10,000 dollars on top of what you paid for the car. And any repairs the car will need will almost certainly have to be done at a dealership and you will pay through the nose for that. Charging stations will be a major problem if you decide to drive a great distance to visit relatives or go on vacation. Of course, you could fly and rent a car, but that can set you back a great deal of money.

The good news is that although there are 60,000 electric vehicles on the road, some actually made it home. And in case of flooding, you have to hope your electric vehicle does not explode, especially when you are in it.

The Associated Press reports:

Ford says EV unit losing billions, should be seen as startup

Ford Motor Co.’s electric vehicle business has lost $3 billion before taxes during the past two years and will lose a similar amount this year as the company invests heavily in the new technology.

The figures were released Thursday as Ford rolled out a new way of reporting financial results. The new business structure separates electric vehicles, the profitable internal combustion and commercial vehicle operations into three operating units.

Company officials said the electric vehicle unit, called “Ford Model e,” will be profitable before taxes by late 2026 with an 8% pretax profit margin. But they wouldn’t say exactly when it’s expected to start making money.

Chief Financial Officer John Lawler said Model e should be viewed as a startup company within Ford.

“As everyone knows, EV startups lose money while they invest in capability, develop knowledge, build (sales) volume and gain (market) share,” he said.

Model e, he said, is working on second- and even third-generation electric vehicles. It currently offers three EVs for sale in the U.S.: the Mustang Mach E SUV, the F-150 Lightning pickup and an electric Transit commercial van.

By 2026, a Republican will sit in the White House and there will not be endless tax breaks for cars that are unpopular. Do you really believe the United States will only be able to buy electric cars by 2035? Biden picked that date because he will be long gone by that time. Let’s see how that works out.

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3 Responses

  1. No, we will look back on this as a foley . They will never work reliably, and are too expensive for normal people, Also if you don’t own a home, where are you supposed to plug it in, run and extension chord out your window and wait 3 days?

  2. Other EV Issues:
    Range
    Battery fires
    Tesla FSD issues
    Lack commercial charging centers
    State electric rates
    Insurance
    No road side mobile services
    Charging centers in disrepair
    No Auto Club services

    Best to sample RENT vs Buy

  3. Other EV Issues:
    Range
    Lack commercial chargers
    Charging times
    Insurance
    No Roadside Service IE Auto Club
    Commercial chargers in disrepair
    Cant operate in winter: snow & or cold temps
    battery fires
    Locked In/.Out of EV

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