Ford's Electric Car Unit: A $3B Disaster

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Top news right now: Ford's electric vehicle division is suffering severe losses, with each electric vehicle sold costing the company roughly a $60,000 loss. In the first quarter of 2023, the division lost $722 million while selling only 12,000 units, bringing the total yearly losses to roughly $3 billion. While the company expects to begin turning a profit by the end of 2024, many experts warn that the division's decision to go "all-in" on electric vehicles is a tremendous risk that requires ongoing support from government subsidies. Private analysts predict the total cost of green manufacturing subsidies under President Joe Biden's Inflation Reduction Act to exceed $1 trillion, with subsidies for electric vehicle battery packs alone topping $130 billion. Stay tuned for more breaking news from Next News.

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Read More: https://dailycaller.com/2023/05/03/ford-losing-tens-of-thousands-per-ev/

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