Ford Motor Company announced Thursday that due to a lack of demand from customers, they will delay the rollout and manufacturing of new electric vehicles.
"In a manufacturing update Thursday, Ford announced that it is pushing back the production launch of its planned three-row electric SUV at its assembly plant in Oakville, Ontario, from 2025 to 2027," Fox Business reports. "Ford lost about $4.7 billion on EVs last year and projects losses in the range of $5 billion to $5.5 billion this year."
Two weeks ago the CEO of Hertz resigned after the company's failed electric vehicle experiment.
"The company, which announced in January it was selling 20,000 of the electric vehicles in its fleet, or about a third of the EVs it owned, is now replacing the CEO who helped build up that fleet, giving it the company’s fifth boss in just four years," Yahoo Finance reports. "In the most recent quarter, Hertz took a $245 million hit to its earnings due to a drop in value of the EVs it was selling."
Billions in losses and a lack of demand isn't stopping the White House from tripling down on their harmful and delusional electric vehicle mandates.
REPORTER: "Ford said today it's delaying production on an electric SUV. Tesla, earlier this week, said its sales are plunging. Do these types of developments make the administration rethink their EV policy?"
— Townhall.com (@townhallcom) April 4, 2024
KJP: “No, not at all.” pic.twitter.com/NkLSyvwzF0
During an interview with Fox News earlier in the week, Transportation Secretary Pete Buttigieg downplayed company concerns and insisted the transition to electric vehicles is underway.
WATCH:@SecretaryPete joins @SandraSmithFox and @johnrobertsFox to discuss the Biden Administration's push for electric vehicles, airline transportation safety, the effort to rebuild the collapsed bridge in Baltimore, and the new @USDOT train regulations. #AmericaReports pic.twitter.com/wzYw68dE5r
— America Reports (@AmericaRpts) April 2, 2024
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