Tipsheet

Major Car Maker Lost an Astonishing Amount of Money on Electric Vehicles

Katie Pavlich
Katie Pavlich  |  September 20, 2023 12:00 PM

The Biden administration continues to implement burdensome regulations through the Environmental Protection Agency and the Department of Energy to force car companies into producing electric vehicles. Those mandates are taking an enormous toll on the bottom line, causing Ford alone to lose $4.5 billion to comply -- that's a $60,000 loss 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." 

With the massive losses, there's no doubt the Biden administration will argue taxpayers should further subsidize the loss and continue to comply with Biden's climate agenda. In fact, White House Press Secretary Karine Jean Pierre recently touted subsidies from the "Inflation Reduction Act" while falsely claiming they have made electric vehicles more affordable. 

Meanwhile the ongoing United Auto Workers strike against Ford, General Motors and Chrysler, which could furthder cripple the economy, is also the result of Biden's forced transition to electric vehicles.