WHO COULD HAVE SEEN THIS COMING???
As reported by CNN:
Ford on Monday said it is pulling back on its electric vehicle plans, a move that will result in a $19.5 billion charge against its earnings to be taken mostly in the current quarter.
Ouch.
Remember 4 years ago when Biden got in one of the electric F-150s and met Linda, the head engineer behind the electric battery?
Remember how they told us all this was the future, and gave a gazillion subsidies to Ford for pushing electric tech?? 👇
If I were a Ford shareholder, I'd be furious at the dumb decisions the company has made in recent years because its leadership went woke and didn't have the foresight to see that Biden's government subsidies weren't going to last forever.
(Do you think American car companies learned ANYTHING from the 2008 disaster, or nah?)
Fortunately for the dummies running Ford, their absolute, total, and colossal failure is apparently being offset by good ol' gas vehicles.
But excluding that charge, the company said this should actually be a fairly good quarter due to strong sales of its traditional gasoline-powered trucks and SUVs. It raised its operating profit target for the year by $7 billion.
(Thank the Lord for those awful, cLimAte-dEstroYiNg gas cars.)
Instead of battery-powered trucks that no one wants (outside a few enthusiasts), Ford is going to make long-range, heavy-duty work trucks.
Imagine that!
But the pullback on its EV plans also means its flagship electric vehicle, the F-150 Lightning, will be on hold indefinitely. Ford said the next generation of the F-150 will have a 700-mile range and improved heavy-duty towing. It announced Monday that it had halted production of its original F-150 Lightning model this month. But it did not give any details on when production of the new model would begin.
How are they going to get the 700-mile range?
By focusing on hybrids, which people actually want.
I bet the lads at Toyota are feeling pretty proud for never buying into the EV hype and focusing on hybrids from the start.
P.S. Now check out our latest video 👇
