Ford Motor is receiving a reduced incentive package from Michigan for its battery plant in the city of Marshall after the automaker cut expected production at the facility to match demand for electric vehicles.
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Slowing demand for electric vehicles has prompted General Motors and Ford Motor Company to postpone billions of dollars in investments as the automakers decide they don't yet need additional production capacity. The companies say they remain committed to an electric future and are not canceling future EVs or mid-decade profitability targets, even as they pull back on volume in the short term. https://lnkd.in/g_PuX3df
Ford, GM push back spending on EVs
autonews.com
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In my view, the success of electric vehicles (EVs) hinges on several crucial factors: infrastructure development, battery supply chain management, initial affordability for consumers, and, significantly, widespread availability of vehicle charging stations. It appears contradictory for the federal government to mandate EV production and sales without considering the practicalities of charging for consumers. Was there adequate consideration given to the consumer's situation when these mandates were imposed on manufacturers? It's regrettable that auto companies didn't push back against impractical regulations. How can these large-scale producers effectively promote EV adoption when many consumers reside in dwellings like apartment complexes or single-family homes lacking private charging capabilities? How do they encourage sales when public parking spaces, be it street parking, lot spaces, or garage facilities, lack immediate and sufficient charging infrastructure? How can manufacturers appeal to customers without access to a wired private garage or an accessible home's exterior outlet? Furthermore, how can they penetrate markets where power outages are a prevalent concern? Why should I, as a consumer, settle for a charging cycle that surpasses the time it takes to refuel my gasoline tank on a road trip? Moreover, when refueling with gasoline, I'm accustomed to enjoying the comfort of my climate-controlled vehicle, with air conditioning or heating running, while listening to podcasts or music. It is logical to pause vehicle production or construction of manufacturing facilities when customers lack the necessary infrastructure to support electric vehicles (EVs). #FordMotorCompany #Stellantis #GeneralMotors #EV
Ford is delaying plans for a new electric pickup and three-row electric utilities amid slowing demand for EVs. Meanwhile, it aims to offer hybrid variants on each gasoline-powered vehicle in its lineup by the end of the decade
Ford delaying EV pickup, utilities as it expands hybrid options
autonews.com
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Ford Motor Company has announced that they will delay the launch of a new plant in Tennessee that will produce the next generation EV truck. Instead of deliveries beginning in late 2025, they will delay the first deliveries to the following year, which could end up being only a few-month delay. But, this delay is not necessarily because Ford misread the market’s appetite for #electricvehicles. To launch a #manufacturing operation large enough to roll 500,000 vehicles off of the production line per year, planning begins many years in advance. Ford’s plant was originally announced in 2021. The US Environmental Protection Agency (EPA) released their #emissions regulations for Model Years 2021 through 2026 in 2020, so when Ford first made the decision to build an all-#EV plant ~5 years from then, they had likely just seen the latest regulations for cars produced before their plant went fully live. It’s hard to know what the EPA will do 5 years from now, and I’m sure that was the case years ago, too. Last month, the EPA posted the new standards set to begin for MY 2027. They will require a nearly 50% reduction in GHG emissions on light-duty vehicles by 2032. https://lnkd.in/e95rPs8T This means that, by 2032, most cars sold in the US will need to be fully electric or at least have significant fully-electric range. Earlier versions of the EPA regulations were much stricter, but auto manufacturers, the UAW, and others fought the proposed regulations, causing the EPA to walk them back. What does this mean for the #automotive landscape in the US? In the near future, not much will change. In the mid-term, I think we’ll see a variety of hybrid-electric vehicles introduced with longer and longer fully-electric range. Further down the road from that, it’s impossible to tell. Will we see a fully electric future, or will various permutations of a hybrid-electric end up being the norm? #transportation #logistics #automotiveindustry
Ford delays some North American electric SUV, truck production
reuters.com
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Customers’ reluctance to pay extra for EVs has complicated #Ford’s ambitious and expensive plans to sharply increase production of those vehicles. While Ford’s – and the industry’s – sales of EVs are growing, they aren’t growing at the pace Ford had expected. Ford’s Model e EV unit lost about $3.1 billion through three quarters this year. Ford executives emphasized that the company isn’t cutting back its spending on future electric vehicle models. But it now plans to ramp up its EV manufacturing capacity, and its spending on that capacity, more gradually than previously planned. Ford Motor said Thursday that many customers in North America are no longer willing to pay a premium for an electric vehicle over an ICE or hybrid alternative. https://lnkd.in/eCYzfwja #IONAXS #CleanMobility #eMobility #ElectricCars #FutureMobility #Batteries #Automotive #ElectricVehicles #AutonomousVehicles #EV #Lithium #Innovation #Sustainability #Recycling #Future #Energy #Efficiency #Technology #AVEVAI #TomTsogt 🔔👍
Ford will postpone about $12 billion in EV investment as buyers become more cautious
cnbc.com
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🚨 Ford announces further cuts to F-150 Lightning production due to slow sales of the electric truck, impacting 1,400 employees. This reflects the challenge of right-sizing EV manufacturing amidst decreased consumer demand. The struggle to compete with traditional gas vehicles continues in the evolving EV market. #Ford #ElectricVehicles #EV #AutomotiveIndustry #BusinessNews
🚨 Ford announces further cuts to F-150 Lightning production due to slow sales of the electric truck, impacting 1,400 employees. This reflects the challenge of right-sizing EV manufacturing amidst decreased consumer demand. The struggle to compete with traditional gas vehicles continues in the evolving EV market. #Ford #ElectricVehicles #EV #AutomotiveIndustry #BusinessNews
businessinsider.com
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Traditional Automakers recent decisons to delay the production of all-electric trucks raises several questions: 1. What factors might have led OEMs to delay the production of electric trucks? 2. How do you think this delay might impact OEMs' goals for electric vehicle production in North America? 3. In what ways does this decision reflect the challenges traditional automakers face in transitioning to electric vehicles? 4. Are there potential implications for the United Auto Workers union in light of these changes? 5. How might this delay affect OEMs' long-term commitment to offering exclusively consumer electric vehicles by 2035? #electricvehicle #ev
GM to delay all-electric truck production at Michigan plant until late 2025
cnbc.com
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Interesting points from the article: • Ford will delay production of larger EV SUVs from their Oakville plant from 2025 to 2027: they stated they want to allow the market for EVs to develop further, and also want to take advantage of advancing battery technology • Ford lost nearly $4.7 billion in its EV business in 2023 • Ford will boost production of hybrids, and expect to have a hybrid offering across its entire line of behicles by 2030
Ford will delay some North American EV production
reuters.com
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Ford set to lose $4.5 billion on electric vehicles this year, despite increased revenue. Ford Motor Company announced it is projected to lose a whopping $4.5 billion from electric vehicles (EVs) this year, up from the previous projected loss of $3 billion. The company released its second-quarter financial results on Thursday. The U.S.-based automaker's EV division, called "Ford Model e," has lost $1.8 billion so far this year, according to Fortune. The projected $4.5 billion loss is over twice as much as Model e's $2.1 billion loss in 2022. The... https://lnkd.in/geJwRW5K
Ford set to lose $4.5 billion on electric vehicles this year, despite increased revenue
allsides.com
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Don’t hate on Ford’s big, gas-guzzling trucks, because they’re funding its electric future - https://lnkd.in/g3Pmcx5S - - New Post Shared by www.shipwr3ck.com - - Image: Getty Ford’s electric future is being paid for by giant, gas-guzzling trucks and SUVs. That fact came into stark relief this week during the company’s second quarter earnings report, in which the Blue Oval reported losing $1.1 billion before interest and taxes on its EV business, more than twice as much it lost over the same period last year. Compare that to Ford’s profits in the sale of gas and hybrid trucks and SUVs: $2.3 billion before interest and taxes. Commercial vehicle sales also posted a healthy profit of $2.4 billion for the quarter. Ford lost $1.1 billion on its EV business this quarter It’s been over a year since Ford split its business into two separate entities — one focused on electric vehicles called Ford Model e, and the... Continue reading… - -div--figure- -img alt="Ford Motor Dealership" src="https://lnkd.in/gtrb-VyS"- -figcaption-Image: Getty-/figcaption- -/figure- -p id="WiuYfi"-Ford’s electric future is being paid for by giant, gas-guzzling trucks and SUVs. -/p- -p id="DUnDpA"-That fact came into stark relief this week during the company’s -a href="https://lnkd.in/gJEBX8Pj"-second quarter earnings report-/a-, in which the Blue Oval reported losing $1.1 billion before interest and taxes on its EV business, more than twice as much it lost over the same period last year. -/p- -p id="5V6l10"-Compare that to Ford’s profits in the sale of gas and hybrid trucks and SUVs: $2.3 billion before interest and taxes. Commercial vehicle sales also posted a healthy profit of $2.4 billion for the quarter. -/p- -div class="c-float-left c-float-hang"--aside id="ZbpBcX"--q-Ford lost $1.1 billion on its EV business this quarter-/q--/aside--/div- -p id="9SKN6l"-It’s been over a year since -a href="https://lnkd.in/garHWht2"-Ford split its business into two separate entities-/a- — one focused on electric vehicles called Ford Model e, and the...-/p- -p- -a href="https://lnkd.in/gR3fkkWh"-Continue reading…-/a- -/p--/div-
Don’t hate on Ford’s big, gas-guzzling trucks, because they’re funding its electric future
shipwr3ck.com
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