Recently, there’s been some bad news out of Detroit. Ford’s backing off on some upcoming EV models, including a three-row SUV many had been looking forward to, and will instead be focusing more on hybrids. GM has been having different problems with software, recently laying off 1,000 developers after a string of Silicon Valley types failed to acclimate to more traditional corporate culture.
While these companies would like to have us all believe that making EVs and software for EVs is simply too hard, other companies like Tesla and Rivian have been doing a lot better. Tesla is now making more EVs than anybody, even beating out ICE models in some segments. Rivian is still climbing the profit ladder, but is selling software to Volkswagen, a pretty good sign that “legacy auto” is struggling in odd ways while newcomers are having no problem churning out EVs.
So, we need to ask ourselves why these established players are struggling while newcomers are doing just fine.
Wrong on price
https://www.msn.com/en-us/money/companies/ford-reports-loss-on-every-ev-sold-in-first-quarter/ar-AA1nObmJ
Nothing in that article counters what I said.
True cost, yes it’s purchasable at your price but in reality that 60k truck is in reality minimum 100k. Hence why ford is saying fuck that, I’m out
Ford isn’t in the business of losing money, and they aren’t out. They are taking a loss right now in R&D, and building new factories for sure, then saying their EV line loses 1.3 billion and averages that across the number of cars they built. But much of those losses are one time costs and they will eventually pay off. The only thing Ford bailed on was a big electric SUV. They’re still producing lightnings, MachEs, and e-transits. They just announced a new full-size electric truck and a mid size, both likely coming in 2027. They did slow some things down as the market for all vehicles cooled. But they are far from out.