Posted on 02/15/2023 6:29:37 AM PST by rktman
Ford will cut 3,800 jobs in Europe as the company restructures to focus on developing its all-electric fleet, the company announced Tuesday.
The layoffs and restructuring are part of the company’s response to “rapidly changing market conditions” and increased competition in the electric vehicle industry, Ford said in a press release. The company missed its earnings expectations by $1.1 billion in the fourth quarter of 2022 and was down $11 billion from the same time the year prior, according to CNBC. (RELATED: Here’s How Elon Musk Started An Electric Vehicle Price War)
“These are difficult decisions, not taken lightly,” said Martin Sander, general manager of Ford Model e in Europe, in the company’s announcement. “We recognize the uncertainty it creates for our team, and I assure them we will be offering them our full support in the months ahead. We will engage in consultations with our social partners so we can move forward together on building a thriving future for our business in Europe.”
The company is investing $50 billion into its electric vehicle lineup and its plans to make its European fleet all-electric by 2035 are unaltered, Ford announced. Chief Financial Officer John Lawler said in early February that the company would need to be “very aggressive” in cutting costs to compensate for an anticipated $5 billion increase in operating costs in 2023, Reuters reported.
(Excerpt) Read more at dailycaller.com ...
But not your business partners...
Rush spoke of that. Managing the decline as obama’s mission.
Toyota....... the largest Vehicle producer in the world.
There are gasoline vehicles and there are coming EV’s. Coming.....that’s the operative word.
Transition is going to an existential problem for many manufacturers. VW and Stellantis are both large aggregations of what in the present are losers. The weak components must be maintained because of politics. Ford makes trucks that are presently not selling. GM wallows in the despair of what was, but being old lacks the talent to effectively compete.
Toyota has hybrid technology that is being expanded to a larger and more luxurious model. Toyota trucks are best sellers all over the world and can be transomed to hybrids as well, if necessary.
The future is being decided by Toyota that is effectively triumphing during the perilous transistion and by Tesla who has truly revolutionized and thus disrupted the automotive market
Ford Slashes Thousands Of Jobs In Europe As It Pivots To Electric Cars & Bankruptcy
Time to sell Ford stock if one hasn’t yet.
To funny, fires, people trapped in snow storms cost more to run than gas, environmentally disastrous. Let’s jump on board.
If Toyotas are Taliban worthy..........
My road bike’s made of carbon fiber. It was probably made in Taiwan. My mountain bike is built like a Sherman tank. No idea where it was made.
I'd prefer gasoline over hydrogen except for one very important distinction: you can make your own hydrogen. Gasoline has to go through the regulatory channels that the Dims intentionally clog up to control us.
Solar is far from perfect. But if you live in the southern half of the U.S. it can be very useful in weaning you off of the energy sources the Dims over regulate. My solar gives me a lot of freedom to use energy at home with 80% of our power coming from our own solar. This means the Dims' stupid energy policies impact our budget only 20% as much. (At least directly. Obviously I still have indirect impacts such as when the cost to ship groceries to my local store goes up it always makes my grocery costs go up too.) The EV is an extension of the quasi energy independence by making all of our local driving 80% independent from the Dims' stupid energy costs.
When I charge my EV, most of the charging is free from solar. If it was a hybrid BEV / HEV, on the months between long trips when I charge it and the battery gets fully charged, any charge beyond that could run an electrolyzer to generate hydrogen. I don't have to do it every day. Just on days I have a lot of excess solar power with nothing else to use it for. Eventually the hydrogen storage would be enough to use on the next trip to get through long drives between charging stops. Or maybe if I wanted to go on a 400-mile round trip with no stops.
One thing hydrogen brings to the table is it adds extra miles without adding a lot of extra weight (like having a larger battery does). This is the case even if the hydrogen is stored in a solid membrane to make it a lot safer.
Another thing hydrogen does is simplify the car. One thing I don't like about current hybrids is they are two types of motors (one electric, one ICE) with two types of fuel systems, etc. All of that dual complexity IMHO means twice the chance of malfunction. But hydrogen cars are really EV's with a different power source (fuel cell instead of large battery). So a hybrid BEV / HEV means it's one motor type (electric motor) with two power sources: battery and hydrogen fuel cell. IMHO that would be less chance of malfunction, while it would give those of us in the south (good for solar) a chance to drive many miles independent of energy sources the Dims over regulate.
Toyota is doing fine.
They are building a product that people want to buy. HYBRIDS and plug in Hybrids.
IMHO, this makes much more sense for the average car/tuck buyer. A vehicle that can run completely on battery for short trips under twenty miles. For longer trips you still have the ICE.
I would buy a new Tacoma IF it was a plug in hybrid, but still had a V6 engine to pull a trailer/boat. I drive under 20 miles round trip to work and back everyday.
I would never buy an EV only. Especially living in NH.
That would be a good compromise solution that people would be interested in.
Well, that's never happened before. Like European governments going all in on diesel passengers cars, then treating owners like war criminals.
“...it will likely make things worse...”
Not likely, but definitely. I read an earlier post with the comment:
“If the current power grid can’t handle a night of 20 degrees temperatures without rolling blackouts, how are we going to plug-in 100 million electric cars at night?”
Kinda odd timing for this announcement after Ford a few weeks ago decided to get back into F1 racing teaming with Red Bull.
—”I called Ford bankruptcy in 1st quarter 2024.”
Are you shorting Ford?
Got a hunch, short a bunch.
Ford has issues with Ecoboost engines and with their “big” engine. Design AND internal parts are not what Ford was in prior years and decades. Here’s one of the 7.3’s MAJOR engine problem that shows up between 35,000 and 50,000 miles.
https://www.youtube.com/watch?v=VdODNCV1dis
That and their EV plunge is another brick in their wall.
Always listen to Toyota.
I’m pretty sure that internal combustion Toyota pickups with a mounted machine gun are the most preferred terrorist armored vehicle in the world.
As I recall, they even have a name Technicals.
I forgot the term and looked up images . It turns out real governments including US Special Forces use some version of armed Toyotas.
Yup but not sure about “armored” part. Armed yes.
I would never buy an EV only.”
Let’s hope you have a choice. The rat states are in a position to bully the rest of the country. If they ban ICE car sales the car makers will almost certainly abandon them. They are not going to make cars they can only sell in half of the states. They will make cars they can see in every state. Meaning EV’s.
jeep is going EV now too, makes me sick
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