EVs Giving Ford’s Finances a $1 Billion Flat Tire

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    Jonathan Weiss / shutterstock.com
    Jonathan Weiss / shutterstock.com

    Going green has the Ford Motor Company seeing red.

    As President Biden continues to push the nation towards “green” innovations for the planet, with electric vehicles (EVs) as the main push, Ford was quick to respond. Packing their board with yes men and desperate to gain some extra government contracts, they went to work on getting the factories going. However, so far, these factories have failed to make a return for the company. Instead, each EV that Ford manufactured in the first quarter of 2024 came at a $132,000 loss and totaled $1.3 billion in losses.

    Slashing prices due to low consumer demand, Ford is doing everything they can to get their EVs sold off following a 20% drop in EV sales in 2024. Their Model E platform lost about 84% of its revenue and is responsible for the dramatic loss for the company as a whole. Now, they are projecting a $5 billion loss for the year, down from $4.7 billion in losses in 2023.

    Author Andy Puzder explained the situation on X. “Americans don’t want EVs at levels Biden’s climate hysteria require. Ford’s EV Q1 losses soared to $1.3 billion — a ridiculous $132,000 per EV sold. All of Ford’s profits came from combustion engine vehicle sales. Collectivist policies destroy prosperity.” This kind of loss is unsustainable without dramatic government intervention.

    Competing with the Chinese and their cheap automation practices is already difficult for governments across the globe. When their government gives them billions to help offset losses so they can undercut American companies it only becomes more difficult for our own to succeed.

    Ford won’t survive EVs unless the Biden administration gives them a blank check. It’s time they wake up to the reality Biden won’t accept- Americans don’t want EVs. We want fewer California regulations, cheaper and longer-lasting automobiles, and a resurgence of diesel options. If they can make durable gas and diesel vehicles for the Middle East, Africa, and Asia, why can’t we get them here in the US?