Author Topic: After Losing Billions In EV Market, Ford Is Ditching Plans For An Electric SUV  (Read 770 times)

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Offline rangerrebew

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After Losing Billions In EV Market, Ford Is Ditching Plans For An Electric SUV
by Nick Pope  Aug 21, 2024 in Electric Vehicles, News Reading Time: 3 mins read
 

Ford said Wednesday that it is canceling its plans to build a three-row electric SUV as the wider U.S. electric vehicle (EV) market continues to struggle. [emphasis, links added]

The company announced that it expects to take up to $1.9 billion in write-downs and other special charges related to its decision after losing billions of dollars on its EV product line in 2023.


In addition to canceling its three-row electric SUV, Ford is also pushing back its plans to roll out an electric pickup truck model until 2027, a one-year setback.

Ford initially delayed its three-row electric SUV plans by two years earlier in 2024, pushing its launch date from 2025 to 2027.

https://climatechangedispatch.com/after-losing-billions-in-ev-market-ford-is-ditching-plans-for-an-electric-suv/
The unity of government which constitutes you one people is also now dear to you. It is justly so, for it is a main pillar in the edifice of your real independence, the support of your tranquility at home, your peace abroad; of your safety; of your prosperity; of that very liberty which you so highly prize. But as it is easy to foresee that, from different causes and from different quarters, much pains will be taken, many artifices employed to weaken in your minds the conviction of this truth.  George Washington - Farewell Address

Online mountaineer

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Ford kills electric SUV as EV division is on pace to lose $5.5 billion this year
Ford reportedly lost $100,000 for every electric car it delivered in the first quarter of 2024.
Paul Sacca
August 21, 2024
Quote
Ford Motor Company announced that it is recalibrating its EV strategy over concerns about profitability, including scrapping an electric SUV.

Ford is canceling plans to manufacture a large, three-row electric SUV.

Ford chief executive officer Jim Farley said, "We loved our three-row crossover and I was so excited to show everyone the work we did. But there was just no way it would ever meet our criteria of being profitable.”

Ford now plans to leverage hybrid technology for its next-generation three-row SUVs.

Ford forecasts smaller, cheaper EVs as the future, while hybrid technology will be utilized for powering larger vehicles.

“This is about us being nimble and listening to responses from our customers,” Ford vice chairman and CFO John Lawler said in a call on Wednesday. "Hybrid tech for those customers is the best solution." ...
https://www.theblaze.com/return/ford-electric-vehicles-evs-hybrids

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Offline DefiantMassRINO

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The Achille's Heel was charging.  It takes too long and there is insufficient infrastructure to support long distance road travel. 

Americans love driving the open road.  They don't like calling for a tow truck because their car ran out of juice.  Anyone who has loaded a station wagon with kids to drive interstate could tell you that.

Luxury golf carts may not help the family survive driving down I-95 on a hot Summer day to get to their beach vacation.
"Political correctness is a doctrine fostered by a delusional, illogical minority, and rabidly promoted by an unscrupulous mainstream media, which holds forth the proposition that it’s entirely possible to pick up a turd by the clean end." - Alan Simpson, Frontline Video Interview

Online mountaineer

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The Achille's Heel was charging.  It takes too long and there is insufficient infrastructure to support long distance road travel. 

Americans love driving the open road.  They don't like calling for a tow truck because their car ran out of juice.  Anyone who has loaded a station wagon with kids to drive interstate could tell you that.

Luxury golf carts may not help the family survive driving down I-95 on a hot Summer day to get to their beach vacation.
Good point. My family of six moved from Pittsburgh to Los Angeles in a 1962 Ford Galaxie station wagon. Not sure we would have made it in an EV.  :pondering:
The abnormal is not the normal just because it is prevalent.
Roger Kimball, in a talk at Hillsdale College, 1/29/25

Offline Smokin Joe

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  • I was a "conspiracy theorist". Now I'm just right.
If you think American industry has been screwed by the machinations of the Klimate Kult over the last two decades, consider that the EV market has basically tanked, resulting in billions of dollars in losses as it tries to be other than a niche market.

Even the threat of government interference has failed to gin up demand in markets which remain reticent to adopt EVs, commonly because the stakes are high.

Vehicles which fail to perform when and where needed, commonly under conditions those in more temperate climates consider extreme, become not just a commercial liability in the workplace, but a matter of life and death when transporting children or adults in subzero conditions in less populated areas.

While for those in more urban, higher population density surroundings in areas where help is more likely to be obtained due to passing traffic, and conditions are far more survivable, and who do not often travel large distances to and from work, EVs may be an alternative, or even preferable in high density population areas due to the lack of tailpipe emissions and the availability of assistance if in need.
If any vehicle could meet the needs of every market, there would be a lot fewer designs out there, and the EV is no exception to that. Six figure losses per vehicle are not a sustainable business model.
How God must weep at humans' folly! Stand fast! God knows what he is doing!
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Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

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