As the United Auto Workers Strike drags on, President Joe Biden's forced transfer to electric vehicles has suffered a major blow.
U.S. automaker Ford Motor Company announced Monday that it would pause construction of a billion-dollar plant in Michigan involving a Chinese electric vehicle battery company.
"We’re pausing work and limiting spending on construction on the Marshall project until we’re confident about our ability to competitively operate the plant," Ford spokesperson T.R. Reid told FOX Business. "We haven’t made any final decision about the planned investment there."
Ford announced in a ceremony earlier this year that it would invest $3.5 billion to build the plant in Marshall, Michigan. As part of the announcement, the U.S. automaker said it had reached an agreement with Contemporary Amperex Technology (CATL), a Ningde, China-based firm, to manufacture battery cells at the plant using services provided by the Chinese company.
Ford recently reported it will lose $4.5 billion on electric vehicle production this year alone and is losing $60,000 per car produced.
"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," Fox Business reports. "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."
The Biden administration continues to argue taxpayers should further subsidize the massive losses to comply with Biden's climate agenda.
Meanwhile, President Joe Biden is set to visit the UAW picket line in Wayne, Michigan Tuesday, but continues to double down on electric vehicle mandates for private companies.
I know the "upper chamber" is busy with wardrobe policy at the moment but stop the lies.
— Representative Lisa McClain (@RepLisaMcClain) September 20, 2023
Biden told automakers by 2030 they should have 50% of sales be EVs. That hamstrings the auto industry, which jeopardizes autoworkers livelihood.
"Union Joe" is responsible for this mess. https://t.co/s4ySY2HSFc
US President Joe Biden said he supports the United Auto Workers union as the strike against the Detroit Three automakers entered its tenth day. Biden will travel to Michigan to show support for workers and visit a UAW picket line https://t.co/wfrK06swTX pic.twitter.com/yVQtOdWmIk
— Reuters (@Reuters) September 26, 2023
Join the conversation as a VIP Member