Posted on 07/30/2023 9:20:59 PM PDT by MinorityRepublican
Ford Motor said Thursday pushed back production targets for its electric vehicles, citing slower-than-expected adoption.
Ford now expects to be building EVs at a rate of 600,000 per year sometime during 2024, a delay from earlier estimates that it would reach that level by the end of 2023. The automaker had previously targeted a rate of more than 2 million per year by the end of 2026, but now says it doesn't know when it'll achieve that volume.
"The transition to EVs is happening, it just may take a little longer," CFO John Lawler said following the automaker's second-quarter earnings results.
"It will be a little slower than the industry expected," he said.
But Lawler emphasized that Ford's EV spending plan and its profitability goal for its electric vehicle unit haven't changed. He said that Ford is still targeting an 8% operating margin for its EV business, and that it isn't planning to reduce its capital spending on the vehicles.
(Excerpt) Read more at cnbc.com ...
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You have to be stupid.
Rolling blackouts are part of the plan.
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The government is going to ban the sale of new ICE vehicles. They probably told the CEOs of Ford and GM that. So that’s why you see both corporations playing ball.
I think I’m going to get a 2024 F-150 [non Lightning, non hybrid] as my end of driving lifetime pickup.
Almost done, I am.
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Nice!
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My guess is that we have until 2030 to buy a brand new ICE vehicle.
They'll probably ban all ICE vehicles from the road by 2050 or so.
But all of our military vehicles are ICE. We are going to lose that infrastructure (for gasoline) if we are going to ban ICE vehicles.
New Coke deja vu.
It seems no one WANTS the ugly eDonkey.
Only reason they are building EV is to lower their CAFE exposure...
I’m not buying an ev from anyone. I’d potentially consider a hybrid if the only other choice is ev.
Yeah, no!
Because of the government subsidies and pressure, it will probably occur even slower in the long run if at all vs normal development to reach peak quality, efficiency, and economies of scale.
After reading about the heavy EV motors, I’ll never buy one. They are a danger to other vehicles.
As long as the free market has a voice, EVs are a niche for the rich virtue signallers. Nobody who actually has to USE a vehicle for work is going to touch one. High initial cost, long periods of downtime while charging, short range, esp. with any kind of load, risk of spontaneous combustion, miserable performance in cold weather, und-und-und.
Ford needs to look at this from
a very simple angle of logic.
50% of the country recognizes
the shortcomings of EV’S, and
will never consider buying one.
25% of the remaining 50% don’t
have the financial means to
spend $40k-50k on a new car.
That leaves 25% of Ford’s
customers falling into this
trap.
You’re going to witness EV’s
stacked up like cordwood, just
as China has acres and acres
of brand new EV’s rotting away.
Yes! and people need to understand your comment! freepers im sure, others not sure at all
2024 GMC Sierra 1500 SLT with the 3.0 diesel for me.
But generally, I think that the switch to EV only is about as likely as that high-speed train in California; push back the delivery date, raise the cost estimate, and look for other people's money to fund it.
Ford is building a HUGE battery plant in Glendale, KY, right next to I-65. Massive capital investment.
https://corporate.ford.com/operations/blue-oval-city/kentucky.html
It’s just north of cave country, Mammoth Cave is maybe a half hour away. I hope they don’t have any sinkhole issues like the Corvette Museum just a little south in Bowling Green did.
“But Lawler emphasized that Ford’s EV spending plan and its profitability goal for its electric vehicle unit haven’t changed. He said that Ford is still targeting an 8% operating margin:
He meant to say negative 8% operating margin.
In other news this past week...
Ford is forecasting that its electric vehicle division will lose $4.5 billion this year, the U.S. automaker announced on Thursday. The division, called “Ford Model e,” has already shed about $1.8 billion in 2023 so far
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