Ford has lost $3 billion on electric vehicles and fully intends to lose even more. From Eric Peters at ericpetersautos.com:
It used to be – how much money can we make? It is now how much money can we lose? At least, that appears to be the reasoning behind “electrification” – the neutral-sounding term commonly used to describe the out-regulating of everything that moves that isn’t battery-powered – in favor of everything that is.
Practically every car company has bought in, as it were – and it is costing them, literally, billions.
Maybe, eventually, everything.
Ford just revealed it expects to lose $3 billion – so far – on “electrification.”
In saner times, the losing of $3 billion would be reason enough to pull the plug. But not when it comes to “electrification.” Ford said it expects to lose more billions – through at least 2026. And this provides the impetus to build two million more battery-powered money-losers by 2026.
Emphasis on “build.”
As opposed to sell.
More exactly, build and sell at a profit.
Aye, there’s the rub.
One can build as many of something as one likes, just the same as one can dig (and fill in) as many holes in the backyard as one likes. According to Marx, this is how “value” is created – as by labor. The flaw in Marx’s reasoning is that there may not be value to others in the labor. If Marx had been right then we could all get rich by digging holes in the backyard and filling them in again. Or by hopping up and down for eight hours every day. But we generally get poor – and tired – doing either because there are very few other people willing to give us money in exchange for our digging (and filling in) holes in the backyard or hpping up and down all day long.
They are hoping the crocodile will eat them last.
Personal mobility is on the chopping block
Too much freedom going on when you can hop in your jalopy and travel to the other side of the country.
That won’t be allowed for very much longer.
Enjoy happy motoring while you still can.
I must point out that it is one thing to build these vehicles, quite another to sell them! I predict massive losses for those legacy manufacturers who have chosen to prostitute themselves and their customers/shareholders.
After such losses become “inescapable,” the leadership of these charlatans will go hat in hand to DC where they will beg for bailouts to sustain them. Meanwhile, Tesla will continue to enjoy his “niche!”
Our beloved country is on a path of fearsome decay. I fear for my progeny.