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 ...
Everyone driving EVs is a pipe dream. Even IF they can overcome the problems of battery limitations they can not build up the grid enough in the next ten years.
They would have to produce 5X the amount of Copper, Nickel and lithium.
Then what is going to provide the electricity to the grid?
Solar panels and winds mills?
We would need another 50 nuclear reactors just to start. We are not even building ONE.
I think the dirty secret is they know damn well the grid is not going to be ready therefore limit driving and mass transit will be mandatory
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