As the push for electric vehicles persists despite public reluctance, the once-promising solution for environmental concerns is revealing significant drawbacks. Issues like inadequate charging infrastructure, limited range, battery problems, high repair costs, and supply chain disruptions have plagued the industry.
Despite these challenges, proponents like Joe Biden continue to advocate for electric vehicles. However, the lack of consumer interest has led to substantial financial losses for manufacturers. Ford Motor Company, for instance, reported a staggering $4.7 billion loss in 2023 from its electric vehicle product line, exceeding earlier projections.
The company attributed the losses primarily to intense competition driving down prices. With Ford selling around 72,608 electric vehicles in the year, the losses translate to roughly $65,000 per vehicle sold, an unsustainable business model. Moreover, Ford anticipates further losses, projecting up to $5.5 billion for 2024, particularly concerning in an election year.
Despite Chief Financial Officer John Lawler’s optimistic remarks about future profitability and customer adoption, the reality suggests otherwise. Ford’s flagship electric vehicle, the F-150 Lightning pickup, saw diminished demand, leading to production cuts. This setback is notable, especially as Biden’s administration aimed for 50% of new vehicle sales to be electric by 2030.
Watch Biden test drive the Ford Lightning pickup here:
General Motors has also dialed back production and tempered expectations, posting a $1.7 billion loss on electric vehicles in just the fourth quarter of 2023. Ford went on to state: “We said yesterday that we will launch our second-generation EVs when they can be profitable and deliver the kind of returns we want, and we will build a stand-alone profitable EV business. Meantime, we’re improving the contribution margin of our first-generation EVs.”
“You should be in a nursing home!” Here’s how Kurt Russell responds to haters’ trolling comments about Goldie Hawn’s performance
It’s hard to believe, but the internationally renowned actress is already 78 years old, while her partner has reached the tender age of 73.
Their extraordinary love story began on Valentine’s Day in 1983 and is still an inspiring story of connection that does not require the bond of marriage.
Despite the constant media attention and the prying eyes of the paparazzi, they have no plans to break up. Their bond seems unbreakable and they enjoy spending time together on vacation, regularly making headlines.
Recently, the actress came into the limelight when she was photographed in a bikini, which received mixed reactions. Some criticized her for her naturally aged appearance, but her partner Russell immediately rushed to her defense.
He still sees his wife as a timeless beauty and defends her decision not to marry. Russell emphasizes that their independence and the freedom to manage their relationship as they see fit are of great importance to both of them.
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