“Our Gen 2 autos received’t launch until we will … revenue”  – Watts Up With That?

Demise of the EV revolution?

Ford pulls the plug on EV technique as losses pile up

‘Our Gen 2 autos received’t launch until we will get to a revenue’

Brandon Vigliarolo 
Wed 7 Feb 2024  // 18:30 UTC 

The truth of electrical car costs has lastly caught up with the venerable US automaker Ford, which mentioned yesterday that it’s rethinking its loss-making EV technique.

The information got here throughout Ford’s This fall 2023 earnings name yesterday, and included revelations that the Detroit-based biz was additionally reassessing its EV battery technique, a call that comes as no shock within the wake of delays introduced final yr. 

“We delayed our second three way partnership battery plant in Kentucky. We diminished the dimensions of our new lithium iron phosphate plant in Michigan, and we didn’t proceed with our JV battery plant in Turkey,” Ford CFO, John Lawler, mentioned on the decision.

“We’re additional adjusting put in capability to match demand, reassessing vertical integration in new battery chemistries, adjusting Gen 2 merchandise and probably their launch timing to make sure they meet our standards for profitability.” 

…

“Our Gen 2 autos received’t launch until we will get to a revenue and a return on that capital that we’re investing there on the pricing setting that we now perceive is actuality,” Lawler mentioned. “We all know that we’ve to have this electrical car enterprise stand by itself and be worthwhile as a result of we all know that there are rivals on the market.” 

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Learn extra: https://www.theregister.com/2024/02/07/ford_ev_strategy/

Given the dearth of client curiosity in EVs, is that this truly a requirement to the Biden Administration to offer extra taxpayer money, or does it signify a real change in company course?

Does the Biden Administration have any extra borrowed money to offer?

I suppose time will inform.