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Ford Posts $3.1 Billion LOSS on Electric Cars

According to the company’s earnings report released on Wednesday, Ford reported revenue of $34.5 billion between January and March, a 5% decline over the same period in 2021, and a net loss of $3.1 billion on it's investment in electric cars.

On a side note: Rivian has posted massive profit losses of its own and its share price has plummeted nearly 70% over the last six months. In the final three months of 2021, Rivian reported a net loss of $2.5 billion.

Rivian CEO RJ Scaringe noted that the supply chain couldn’t help EVs replace gas-powered cars if they wanted to. In particular, the Lithium Ion batteries the cars use simply can’t meet demand (90% to 95% of the supply chain does not even exist to build the extra batteries needed to replace internal combustion engine cars).


Hydrogen ICE and Fuel Cell electric cars are the better alternative..

 

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