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.
I stopped buying Ford's 15 years ago. Everyone of their products I owned was a maintenance issue. So it's no wonder they have issues trying to make an electric car that works. I just wonder with FIAT owning Chrystler/Dodge/RAM, how the European Russian Gas devoid sector is going to be able to supply parts to USA.
EVs (effectively coal-fired) are the next best thing.
Electric cars were always city cars and with cities discouraging car ownership the electric is a finite market built with finite materials .
That all being said I live in Hawaii and there are so many Teslas here it's kind of weird but it works because about the furthest distance you drive in a day is a hundred miles or so from one side of the island to the other and back.
Lithium is a psychoactive element and these lithium batteries off gas so I'm not 100% comfortable being around them, not even my flashlight batteries.
An electric car which is several times more expensive to build and operate should have had never been built at Ford. Mechanical genius Henry would have had never get involved in this scheme. He had designed a car for the masses that could be built in 90 minutes rather than 12 hours it took to build a rich-man's car a hundred years' ago. Ford will lose even more money unless they realize their mistake now and falls back on the company founder's founding principles!
They have many fewer parts than an internal combustion engine and transmission.
-environmental damages mining for lithium / cobalt
-contamination of massive amounts of fresh water during mining process
-reports of child labor abuses mining in third world countries
-less than 2% of batteries are reusable, balance contaminating landfills
We also don't have the electrical infrastructure for supplying enough power for charging a couple hundred million electric vehicles.
The problem for Hydrogen and Fuel Cells has always been energy density - storing or generating enough for long range. We set up our economy and communities in the 1950's to allow long commutes ( 4-60 miles ) as normal, and now we're experiencing the downside of that. A little Hydrogen car for driving a couple miles to work and occasionally going a few miles to shop or eat out would work fine. Of course, if we were to have that situation, ICE cars would be fine, too, as our gas usage would be small.
People were so permanently wedded to the idea of living farther and farther from their work, in the 1940s-50s-60s, that they were sure we would be taking flying cars to work by the 1990s. Where's my flying car ??