Ford finally realized that they don't need these battery plants, because they can't sell the EVs that they made. Every EVs Ford makes they loose $50,000 and no one wants to buy it.
Ford needs to go back to the basic and stop chasing after Tesla.
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JF is today's Jac Nasser. Jac famously bought junkyards, Volvo, Land Rover, Jag, AML, and other bad investments. Ford was caught flat-footed during the dot com bust and was left with many bad investments.
Ford took a $9.2 billion dollar loan so that they can pay for the mistake in building EV and battery plant. What do you think will happen when the money is Gone.
How will we ever surpass Tesla now??
“Ford finally realized that they don't need these battery plants”
Fascism is the fusion of government and business. Mu--olini invented it. Corporations in the fascist system bend with the political winds. And right now, those winds are blowing from the left. But if there is a change in those winds, say the results of elections in the Netherlands and Argentina, the corporations have to reassess how to please their new masters.
So, what looks like a realization may really be just reading the political winds.
All while they try and shove you back into thier depreciating corporate real estate assets....because that is the only way to put incompetent management in thier safe place where they feel empowered.
Build a simple affordable Ford truck and customers will come. Build a Ev or some version of a Ford Spy truck and try to sell it for 90,000.00 and wise folks will invest the 90,000.00 and have a tremendous future retirement. No fo-l will pay it unless:
- it is a business write off and therefore free.
- young and no developed skills yet or training in wise investments.
- workers employer paid for it and not the employee driving it.
- a follower who tries to keep up with the Joneses who buy a new one every year.
- ultra rich who just enjoy the spending and have money to burn.
Better idea to plant apple trees on the land in Marshall and then have the USDA buy the apples using federal dollars.
The EV battery startup Our Next Energy just laid off 25% of their staff, so Fordvmight be wise to not start up a new battery plant.
@eyt apparently you’ve missed that Ford IS being left behind in the marketplace. We’ve been losing market share since Farley came on board as VP Marketing (where his JOB was to INCREASE market share). The fact that he was promoted to be CEO despite not doing his job reflects that Ford’s management team and Board of Directors are incompetent.
The ONLY reason EVs have a market is because of government mandates and incentives. Take those away and EVs are a costly novelty and niche solution.
But sanity may be gaining a foothold on the world’s populace. Look at Argentina.
There's nothing they can do, the WEF controls what type of cars are to be built through social pressure, cash incentives and regulations.
Open up a window, living in great grandma's basement with the portable generator running is clouding your reasoning.
Ford can't even build a reliable ICE vehicle after 120 years in the business forget about EVs
I am surprised that Ford leadership is cutting back in this area when we all know that the mobility industry is going BEV.
I would not one-dimensionally view current BEV sales as an indicator for Ford Model e next-gen products. At all. If we do not invest in the BEV strategy fully as was planned, we will be left behind in the marketplace.
You missed the news about them resuming building it, just with 35% lower workforce