EVs are becoming the red shirts of the automotive world

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	Forwarded this email? Subscribe here for more The EV ‘Bloodbath’ Arrives Early EVs are becoming the red shirts of the automotive world David Blackmon Apr 27 ∙ Preview READ IN APP Upgrade to paid Ever since March 16, when US presidential candidate Donald Trump created a controversy by predicting Joe Biden’s efforts to force Americans to convert their lives to electric vehicle (EV) lifestyles would end in a “bloodbath” for the US auto industry, the industry’s own disastrous results have consistently proven him accurate. Share The latest example came this week when Ford Motor Company reported that it had somehow managed to lose $132,000 per unit sold during Q1 2024 in its Model e EV division. The disastrous first quarter results follow the equally disastrous results for 2023, when the company said it lost $4.7 billion in Model e for the full 12-month period. While the company has remained profitable overall thanks to strong demand for its legacy internal combustion SUV, pickup, and heavy vehicle models, the string of major losses in its EV line led the company to announce a shift in strategic vision in early April. Ford CEO Jim Farley said then that the company would delay the introduction of additional planned all-electric models and scale back production of current models like the F-150 Lightning pickup while refocusing efforts on introducing new hybrid models across its business line... Continue reading this post for free, courtesy of David Blackmon. Claim my free post Or upgrade your subscription. Upgrade to paid A subscription gets you: Subscriber-only posts and full archive Post comments and join the community Access to frequent video posts Like Comment Restack © 2024 David Blackmon 10324 Reata Estates Drive, Mansfield, TX 76063 Unsubscribe