“Moment of truth” hits as EV sales fall, costs soar.
Can the cry for government bailouts be far behind?
6month hold, and much tougher rules for renewables
Was a longtime Ford Salesman and these stunning losses are testimony to the folly of these electrics and the folks in the Glass House have lost their minds.. Ok, if someone wishes to purchase one then I have no problem with that but trying to force the country to buy them and eliminating petroleum powered vehicles is ideological delusion.
Great piece 🙏🙏
The WSJ recently quoted Elon Musk as saying “ We need triple the electric generation” to power EV’s AI and so much else. Musk’s numbers check pretty close to EIA and LLNL info which show a steady 100 Quad’s of Primary energy use for over two decades. Electricity generation typically uses 37% of Primary energy, thus confirming Musk statement. My blog thoughts on Primary energy requirement is here: http://dickstormprobizblog.org/2022/07/04/american-dream-100-quadrillion-btus/
I am no fan of electric vehicles, but I cannot help but wonder what the prices will be in 10 or 15 years? Will we see the same learning curve demonstrated by personal computers or cell phones? In theory, that should happen. But will the supply chain and mineral availability allow it to happen?
Good article. Ok so what is Tesla doing right as a comparison? Tesla invested in a charging network because they know that is resistance.
In a perfect world, the government would stop using carrots and sticks to control my purchasing habits. Greta may think this is just fine, but I would point out that I am the one that votes in America. She doesn't.
Why and how did Ford go from losing $66k for every EV sold in Q1 to losing almost $73k per vehicle in Q2? Because now the federal government is paying automakers in advance for making idiotic decisions rather than bailing them out afterwards.
The laws of physics and economics do not yield to ideology.
You gotta lose a Mercedes with each one of these things to learn that the hard way.
First vehicle choice is ICE, second is plug-in hybrid, third choice is taking the bus!
“We’ll make it up in volume”.
Ford Lightning EV pickup was found to be efficient in hauling leaves and Styrofoam
Don't worry... They will get that and more via STATE and FEDERAL subsidies!
Toyota has the right strategy. Plug-in hybrids and hybrids will win out, using a fraction of the technical metals that must be mined for batteries.
Is the point of this to say that EVs are bad? It seems a stretch to make that point based on one quarters performance at one company.
Is the point to complain about crony capitalism? While it’s problematic that they’re getting massive taxpayer subsidies, that is nothing new - that’s just how stuff gets done in America. I’ll grant that EVs are a money losing business for Ford today , but they are investing in EVs because their shareholders want them to., and because their competitors are too. Also, it’s normal to have big operating losses when you’re ramping up production of a new product line