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Author Topic: Major Car Maker Lost an Astonishing Amount of Money on Electric Vehicles  (Read 809 times)

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Offline rangerrebew

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Major Car Maker Lost an Astonishing Amount of Money on Electric Vehicles
« on: September 20, 2023, 01:10:55 pm »
Major Car Maker Lost an Astonishing Amount of Money on Electric Vehicles
 
Katie Pavlich
September 20, 2023 12:00 PM
     
The Biden administration continues to implement burdensome regulations through the Environmental Protection Agency and the Department of Energy to force car companies into producing electric vehicles. Those mandates are taking an enormous toll on the bottom line, causing Ford alone to lose $4.5 billion to comply -- that's a $60,000 loss per car produced.
 
"Ford Motor Company announced it is projected to lose a whopping $4.5 billion from electric vehicles (EVs) this year, up from the previous projected loss of $3 billion," Fox Business reports. "The company released its second-quarter financial results on Thursday. The U.S.-based automaker's EV division, called "Ford Model e," has lost $1.8 billion so far this year."

With the massive losses, there's no doubt the Biden administration will argue taxpayers should further subsidize the loss and continue to comply with Biden's climate agenda. In fact, White House Press Secretary Karine Jean Pierre recently touted subsidies from the "Inflation Reduction Act" while falsely claiming they have made electric vehicles more affordable.

https://townhall.com/tipsheet/katiepavlich/2023/09/20/ford-to-lose-an-astonishing-amount-of-money-on-electric-cars-n2628679
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Offline DefiantMassRINO

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Re: Major Car Maker Lost an Astonishing Amount of Money on Electric Vehicles
« Reply #1 on: September 20, 2023, 02:43:29 pm »
Central Government planning did work for Stalin, Mao, and is not working well for Xi.

What would make it different this time?
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Offline Fishrrman

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Re: Major Car Maker Lost an Astonishing Amount of Money on Electric Vehicles
« Reply #2 on: September 20, 2023, 05:38:37 pm »
Yet at the same time, both the United Auto Workers union and the administration decry the industry's massive "profits"...
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