Posted on 07/24/2022 10:04:44 AM PDT by DUMBGRUNT
The auto industry gambles its finances on big electric vehicles for the rich, like Ford’s Mustang Mach-E and GM’s Hummer EV, and second-rate cars for everybody else.
OK. Buyers aren’t drawn to the electric Mustang or Ford’s new F-150 Lightning pickup to solve climate change. These are exciting, high-tech gadgets in their own right. And that’s fine. Even so, customers’ appetite might slacken if they were told the truth. Ford leaked this week for the benefit of the investment community plans to lay off thousands of workers to fatten the profits of its conventional vehicles.
As Ford CEO Jim Farley said in March, “we need them to be more profitable to fund” Ford’s $50 billion in spending on mostly high-end EVs, which have the least chance of being net reducers of CO2.
Their dreamland is Norway, where hybrid and electric-vehicle miles now exceed conventional-vehicle miles, thanks to generous subsidies to EV buyers. Paid for how? With 0.07% of the world’s people, Norway exports 2% of the world’s oil and gas, 30 times its share of global population.
According to the consultancy AlixPartners, some $526 billion is currently being invested to create dozens of mostly high-end electric vehicles aimed at the 17% of buyers who constitute the luxury market. The impact on climate of these cars will be zero.
(Excerpt) Read more at wsj.com ...
--------------------
A plug-in hybrid electric vehicle (PHEV) is a hybrid electric vehicle whose battery pack can be recharged by plugging a charging cable into an external electric power source, in addition to internally by its on-board internal combustion engine-powered generator.
wiki
“you have obviously have to plug into a charger to charge the battery at that point in time...”
A plug-in hybrid electric vehicle (PHEV) is a hybrid electric vehicle whose battery pack can be recharged by plugging a charging cable into an external electric power source, in addition to internally by its on-board internal combustion engine-powered generator.
The usual.
LOL, good one.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.