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Spin Zone / Re: The EV fantasy
« on: October 27, 2023, 02:34:32 PM »
Ford to Delay Spending $12 BILLION on EV Expansion Due to Slowing Customer Demand
Ford announced Thursday that it will delay about $12 billion in planned spending to increase EV manufacturing capacity.
Ford CFO John Lawler made the statements in a media briefing. The major U.S. automaker had expected electric vehicle sales to increase at a much higher pace, according to CNBC.
Persistently high interest rates are slowing the pace of demand for EVs, Reuters reported this week.
On Thursday, Ford reported an operating loss of $1.3 billion in its EV division during the third quarter. In the statement, the auto maker said that customers are unwilling to pay the premiums for EVs over that of gas or hybrid vehicles, which combine characteristics of battery and gas power.
https://justthenews.com/politics-policy/energy/ford-delay-spending-12-billion-ev-expansion-due-slowing-customer-demand
Ford announced Thursday that it will delay about $12 billion in planned spending to increase EV manufacturing capacity.
Ford CFO John Lawler made the statements in a media briefing. The major U.S. automaker had expected electric vehicle sales to increase at a much higher pace, according to CNBC.
Persistently high interest rates are slowing the pace of demand for EVs, Reuters reported this week.
On Thursday, Ford reported an operating loss of $1.3 billion in its EV division during the third quarter. In the statement, the auto maker said that customers are unwilling to pay the premiums for EVs over that of gas or hybrid vehicles, which combine characteristics of battery and gas power.
https://justthenews.com/politics-policy/energy/ford-delay-spending-12-billion-ev-expansion-due-slowing-customer-demand