This is just basic economics and business. If you want to be relevant in the future, you need to spend money first. In 2014 Fords MC was 63 Bill, Teslas was 27B. So 40% of Fords. Now Fords is 51B and Tesla's is 593B, over 10 times Fords.
If companies gamble to not innovate and remain ICE focused and the change to EVs does take place. It will mean instant death to their company. They will be years behind design (which Ford are learning it takes time to do so), while most other car companies around the world have found their new normal.
In contrast, if the transition to EV's doesn't take place (generally spouted by there is no global warming people), every car company still has their popular ICE vehicles, so yes companies have lost potential earnings by investing in EVs but they don't lose their place in the market.
WR1 Price at posting:
63.5¢ Sentiment: Buy Disclosure: Held
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