Posted on 01/15/2018 12:58:38 PM PST by cp124
Ford Motor Co. will more than double spending on electrified vehicles, amplifying its investment in a segment that the auto industry sees growing from whats now just a fraction of the market.
The carmaker will shell out $11 billion bringing 40 electrified vehicles to market by 2022, Jim Farley, president of global markets, said during a presentation at the Detroit auto show. Thats up from the $4.5 billion that Ford said in late 2015 it would invest through the end of the decade.
This $11 billion youre seeing, that means were all in now, Executive Chairman Bill Ford told reporters in Detroit. The only question is will the customers be there with us and we think they will.
After electric-vehicle darling Tesla Inc. surpassed Ford in market value last year, the second-largest U.S. automaker replaced then-Chief Executive Officer Mark Fields. His replacement Jim Hackett has vowed to cut costs and drop some car models from the lineup to refocus the companys future on sport utility vehicles, trucks and electrification.
With battery costs declining rapidly and regulators around the globe cracking down on the internal combustion engine, automakers have been rushing to step up their game with regards to all-electric models. While the segment comprises less that 1% of annual deliveries in the U.S., global demand is expected to rise as governments phase out gasoline and diesel engines and batteries reach price parity with traditional powertrains.
Tougher Standards Ford expects fuel economy and pollution standards to get tougher, and rightfully so, said Raj Nair, head of Fords North American operations.
We believe man-made CO2 is contributing to climate change and weve got our part to play, he said.
Talk about shooting yourself in the foot!
SELL!
Dumb. What a way to lose a ton of money.
Only 35% of Electric Cars run on Coal Power, so they are actually Coal Cars.
I do believe I’m seeing a huge historical screw-up right before my very eyes.
That would be better termed, ...in the head.
You're stupid.
This idiot probably stuck his mouth on an exhaust pipe before pouting this garbage.
I wonder how long dino-geezers like me will be able to buy refined petroleum products to propel our vintage autos...
This idiot probably stuck his mouth on an exhaust pipe before pouting this garbage.
We believe man-made CO2 is contributing to climate change and weve got our part to play,
Code for: “There’s government cheese in the form of generous subsidies for companies exploring and developing electric cars in the name of reducing CO2 - without having to worry about those pesky profits”.
Tesla is prime example.
Why would I *possibly* consider an electric vehicle?????
translation: The new Ford business strategy is to rely on our overlords in Washington to kneecap our fuel efficient gasoline powered Japanese and Korean competitors.
Here is the money quote:
“With...regulators around the globe cracking down on the internal combustion engine”
Ford is banking on a little ‘nudge’ from government, for this transformation to happen.
I’ve been trolling Tesla boards lately, and a lot of millenials are outright offended by the gasoline engine...they have no sense of history, and can’t comprehend how tough life would be without fossil fuels. Ford has to try and sell cars to these lunatics.
Ford is betting the President , House and Senate will be run by Democrats and will order everyone to buy Electric Cars
What I have suggested them to be, is a second car in the family.
Most folks don’t commute further than 20 miles or so. They can use an electric to commute, and drive off-site too if they need. They can go to the supermarket or pick up other supplies. If it doesn’t make sense for a family, they should take a pass. If it does make sense do it.
Marketing them to replace cars with 300-500 mile ranges, was a losing proposition IMO.
“global demand is expected to rise as governments phase out gasoline and diesel engines and batteries reach price parity with traditional powertrains”
None of that is close to happening.
Never invest based on politics
Man-made carbon dioxide is only a small fraction of the sum total of CO2 that is recycled EVERY DAY by natural processes alone, and CO2 impact on the environment diminishes to insignificance compared to the effects of the cycle of water changing from solid (ice) to liquid (as water) to water vapor (as clouds, steam or invisible relative humidity).
Carbon dioxide cannot possibly have the impact on either global warming or cooling that some people of limited accomplishments seem to want to attach to it. At best, CO2 is only a LAGGING indicator of atmospheric changes reflected as “climate”.
This is prima facie proof that government regulators worldwide have notified car companies they WILL phase out gasoline and diesel.
The days of the cross-country road trip are numbered.
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