Connect with us

Hi, what are you looking for?

News

Ford Lost an Astonishing Amount of Money on Electric Vehicles

The Biden administration continues to implement burdensome regulations through the Environmental Protection Agency and the Department of Energy to force car companies into producing electric vehicles.

Those mandates are taking an enormous toll on the bottom line, causing Ford alone to lose $4.5 billion to comply — that’s a $60,000 loss per car produced.

“Ford Motor Company announced it is projected to lose a whopping $4.5 billion from electric vehicles (EVs) this year, up from the previous projected loss of $3 billion,” Fox Business reports.

“The company released its second-quarter financial results on Thursday. The U.S.-based automaker’s EV division, called “Ford Model e,” has lost $1.8 billion so far this year.”

With the massive losses, there’s no doubt the Biden administration will argue taxpayers should further subsidize the loss and continue to comply with Biden’s climate agenda.

In fact, White House Press Secretary Karine Jean Pierre recently touted subsidies from the “Inflation Reduction Act” while falsely claiming they have made electric vehicles more affordable.

Meanwhile the ongoing United Auto Workers strike against Ford, General Motors and Chrysler, which could furthder cripple the economy, is also the result of Biden’s forced transition to electric vehicles.

READ 19 COMMENTS
  • Aquariusjoan says:

    Make all cars hybrid- a win-win for all!

  • malady says:

    of course, they lost money, Electric vehicles came on the line without proper testing, and we are supporting China for those Batteries. Just what else can go wrong? The New Green Deal is a slush fund and a pyramid scheme for the Democrats’ game.

  • Michael T says:

    ‘Look for the Union Label’. Then buy something else.
    I live on under $900 a month. yet these a-holes want a 40% raise on work that can mostly be automated out of existence? I’ve never liked unions, but I’ve come to despise them.
    All they are good for is to funnel billions of dollars out of people’s pockets.

  • TOP STORIES

    News

    Amidst constantly rising food prices, we love grocery shopping at Walmart for our favorite brands at the best prices. Recently the chain has been...

    News

    A federal judge is upholding new Arizona laws that would require registered voters to provide proof of U.S. citizenship in order for their votes...

    News

    In a culture wherein the most effective means most people have of making their voices heard is their wallets, many people, left and right,...

    News

    Texas police have said the car crash that killed Mitch McConnell’s sister-in-law Angela Chao is under ‘criminal investigation’ – but refuse to release the...

    >