Until then, I’d never heard of it. Sharp looking truck."
'Sharp Looking'? Really?
I think it's kind-of butt-ugly.
It looks like a toy made by Playskool.
But that's just me...
Posted on 05/06/2022 10:18:16 AM PDT by fireman15
Major U.S. automaker Ford blamed its sizable investment in electric vehicle (EV) company Rivian for its dramatic revenue decline in the first quarter of 2022.
Ford reported revenue of $34.5 billion between January and March, a 5% decline relative to the same period in 2021, and a net loss of $3.1 billion, according to the company’s earnings report released Wednesday. The Detroit automaker said its large investment in Rivian accounted for $5.4 billion in losses during the first quarter.
“A net loss of $3.1 billion was primarily attributable to a mark-to-market loss of $5.4 billion on the company’s investment in Rivian,” Ford said in the earnings report.
Ford maintains a roughly 12% stake in Rivian, CNBC reported in November.
Rivian has posted massive profit losses of its own and its share price has plummeted nearly 70% over the last six months. The value of Ford’s roughly 102 million Rivian shares has fallen from about $17.5 billion to $3.2 billion since November.
In the final three months of 2021, Rivian reported a net loss of $2.5 billion.
Automakers have increasingly turned their attention toward manufacturing electric vehicles as governments push aggressive green energy plans. President Joe Biden has promised to craft policies to ensure 50% of new vehicle sales in the U.S. are emissions-free by 2030 and every addition to the federal government’s 600,000-vehicle fleet is electric by 2035.
However, Rivian CEO RJ Scaringe recently suggested that the supply chain for EV batteries is still far behind where it needs to be to achieve many of the goals pushed by Western governments, the WSJ reported.
“Put very simply, all the world’s cell production combined represents well under 10% of what we will need in 10 years,” Scaringe said last week. “Meaning, 90% to 95% of the supply chain does not exist.”
(Excerpt) Read more at thestarnewsnetwork.com ...
“all the world’s cell production combined represents well under 10% of what we will need in 10 years”
And there aren’t enough mines in the world to produce the Rare Earth Metals to make the batteries, motors, windmills and solar cells that drive the Green Wet Dream. It is almost impossible to open these mines in the US, so they will be opened in other parts of the world with minimal environmental safeguards. This is the DIRTY not-so-secret secret of “green” energy. Hardly anybody is taking an overall systems perspective when evaluating this green future. It will be a disaster on many levels.
Ford Reports Devastating Losses Thanks to Electric Vehicle Gamble
I wonder if they ever learn. No doubt that sometimes in the future electric cars may be the answer when they come up with some magic battery, which charges up quick, lasts for quite some time and is relatively inexpensive. But until then our good old faithful combustion engines will do just nicely.
Makes sense.
Cool tag-line by the way
Ford Reports Devastating Losses Thanks to Electric Vehicle Gamble
I wonder if they ever learn. No doubt that sometimes in the future electric cars may be the answer when they come up with some magic battery, which charges up quick, lasts for quite some time and is relatively inexpensive. But until then our good old faithful combustion engines will do just nicely.
$4800 for an oil pump is mighty steep. the part from Rock Auto tops out at about $170 for a standard replacement. If it takes your mechanic 8 hours to replace it - and it should take considerably less than that - he’s getting about $575 an hour. You probably have to pull then engine, but he should be able to do that without too much trouble
Ford vehicle sales overall were down 17% in the 1st quarter, but their puckup truck sales were down 31%.
2007 Ford Expedition Mechanic is telling me it needs a $4800 oil pump job
—
Autozone $115-$240. Install labor does not cost $4,500. Unless there is something you are not saying - find another shop
Some places diesel is $6.39 gal.
'Sharp Looking'? Really?
I think it's kind-of butt-ugly.
It looks like a toy made by Playskool.
But that's just me...
“How would you know what you were buying and if you would need to replace the batteries immediately or shortly down the road?”
If you know the manufacture date and mileage you’ll have a good sense of the battery usage.
Not necessarily. The limitations on batteries and charging times are in the fundamental nature of physics (the laws of thermodynamics) that no law or arbitrary CAFE standard can change.
But it is stupidity and insanity of the highest order to suggest the internal combustion engine is obsolete and we should go all in on electric cars right now.
Agree wholeheartedly with this
Yoo-gly!
Not counting batteries that will need to be replaced in 'older' cars... at a whopping $8,000 a pop...So much for all the money people will save driving electric.
Maybe...but you have no idea of the treatment of those batteries...discharged completely? Overcharged often?
And no idea about the motors etc...but that is just me. Not a car guy but we ARE familiar with the ICE somewhat...
Worked with Isuzu on the Duramax 6.6 liter program.
They knew their stuff about diesel engines.
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