Environmentalists are in a panic because of this big announcement from Ford

Photo By Rathaphon Nanthapreecha from Pexel

The car buying public is ignoring Joe Biden’s push to get them into electric cars.

People are voting with their pocketbooks and the auto industry is listening to their customers.

And now environmentalists and the Biden administration are reeling from this announcement from Ford.

EVs a money pit for Ford

Ford was one of the willing partners of President Joe Biden’s radical “green” agenda to electrify the auto industry.

The automaker set ambitious goals for its electric vehicle division, and they invested heavily.

Biden appeared at a Ford manufacturing plant in 2021 to test drive the Ford F-150 Lightning EV truck, one of the flagship vehicles of the company’s electric lineup.

Biden said “The future of the auto industry is electric. . .There’s no turning back.”

Melissa Miller, Ford manager of government and public policy communications, celebrated  Biden’s visit.

She said, “We’re honored to host President Biden at Ford Motor Company and excited to preview for him the new F-150 Lightning and the exciting technologies that made it possible. Electrifying America’s best-selling vehicle is a milestone in our country’s transition to cleaner transportation.”

Ford believed that EVs were the wave of the future.

Early EV models were small, slow, and limited in range.

But Ford began making EV versions of popular models like the F-150 and the Mustang sports coupe.

Ford made a big bet that Biden was right, and the future was going to be “green.”

The Biden administration gave Ford nearly $10 billion in taxpayer-funded subsidies to build three battery plants for the new EV fleet.

Major investments were made by Ford to ramp up production for the wave of the future.

But Ford’s electric division is in shambles because demand for electric vehicles is simply not there.

The division lost nearly $5 billion last year, which nearly wiped out the profit made by selling gasoline-powered vehicles.

For 2024, Ford is losing a jaw-dropping $133,000 per EV sold this year.

As much as the Biden administration and asset management firms like BlackRock want to force EVs on people, the laws of economics do not cease to exist.

Ford tells dealerships to pump the brakes on EVs

Ford’s ambitious EV agenda meant that its nationwide network of independently owned dealerships had to get on board.

Ford asked all its dealers to go “on an epic journey of sustainable expansion” to join its “revolutionary” electric vehicle transformation. 

Dealers had to make massive investments in charging stations and other equipment to be certified by Ford to sell EVs.

Now Ford is reversing course on the “green” initiative, as it has not panned out.

The company is telling dealers to stop investments in selling and repairing EVs.

Company executive Andrew Frick told Automotive News, “We don’t want them to make any decisions between now and the middle of June when you can maybe have a more informed decision-making process based off what we work out with council in the next few weeks. There’s a lot that we’ll be reviewing.”

Ford dealers were asked to invest as much as $1.2 million to prepare to sell EVs, but now dealers are watching the electric cars pile up on lots.

Informed American will keep you up-to-date on any developments to this ongoing story.