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I agree with the others who say that it is way too early to write the end to the EV story, and that government support, in the US as well as other nations, has often been an important ingredient of industry success. In fact, the politicians who have been working to erect high barriers to keep Chinese EVs out of the USA have been citing the unfair advantages of government support in China as to why American car companies should not be expected to compete with Chinese EV makers.
Last edited by OutdoorLover; 04-26-2024 at 05:12 PM..
This is nothing more than saying we are pushing these mandates too quickly. Hybrids and electric cars are the future, but we need time to allow the technology and the market (will of the people) to make this a viable option for us.
I know I'm not ready for an electric car (cost) and with all the longer travels I make it doesn't make sense yet (technology).
That's right.
But this is a new loan, although conditional, meaning Ford still must meet certain requirements before gaining access to the funds.
The loan more specifically goes to a joint venture between Ford and the South Korean battery giant, which they're calling Blue SK Oval.
The Ford Motor Company reported total debt around 149.2 billion U.S. dollars in 2023. Total debt comprises automotive debt, credit debt, and other debt.
Mar 8, 2024 https://www.statista.com/statistics/...motor-company/
It is worth noting that a significant portion of Ford's debt is linked to Ford Credit, which provides financing services to customers.
BTW:
Toyota is the most-indebted company ($221.13 billion).
Ford, Chevy and even Tesla are all in trouble. Tesla's with too high of prices and quality problems. Abandoning the would be $25,000 EV to build the Tesla robotaxi. Ford and Chevy going head strong investing billions on a slumping market. They all have to learn to build and sell at cheaper prices so the average citizen can afford them. The new wave of hybrids will also cut into the EV sales. A storm is building to make things even worse for some EV manufactures. The China EV wave will be here soon enough.
''Chinese companies are looking into building EV car factories in Mexico to take advantage of the Mexico-U.S.-Canada trade agreement and avoid hefty tariffs on imports of electric vehicles coming directly from China.''
Fortunately, Ford and GM still have ICE vehicle profits to carry them, so while their EV programs have lost money, they're not currently in trouble, so long as they have that ICE revenue stream.
Tesla has nothing but EVs. Their sales have leveled off and even begun to fall. Their stock is down and they laid off 10% of their workforce. No doubt they are hitting some headwinds, but they are still the premier EV maker in the world and still have a market capitalization of $500B, so you need to keep it all in perspective. Reason for concern, yes, but not panic.
Last edited by OutdoorLover; 04-27-2024 at 05:03 AM..
Fortunately, Ford and GM still have ICE vehicle profits to carry them, so while their EV programs have lost money, they're not currently in trouble, so long as they have that ICE revenue stream.
Tesla has nothing but EVs. Their sales have leveled off and even begun to fall. Their stock is down and they laid off 10% of their workforce. No doubt they are hitting some headwinds, but they are still the premier EV maker in the world and still have a market capitalization of $500B, so you need to keep it all in perspective. Reason for concern, yes, but not panic.
I drove past a Tesla dealer in my area and the lot was full of new ones parked like all other dealers park for sale vehicles. I thought you had to order each one for yourself? Guessing they are selling the ones I saw like every other dealership?
Jesus... You cannot amortize all R&D and development costs, factory construction and the like, over a small run of vehicles made so far, and say that loss is due to those vehicles (or that you add that cost to the cost of each vehicle). Yeah, they're going to report a massive loss for tax purposes, but the factories' cost has to be amortized over not only the ENTIRE production run of any individual model made in that plant, but every vehicle made in that plant moving forward. For battery plants (which some of this is for) that amortization is across ALL EV models made now and in the future.
Jesus... You cannot amortize all R&D and development costs, factory construction and the like, over a small run of vehicles made so far, and say that loss is due to those vehicles (or that you add that cost to the cost of each vehicle). Yeah, they're going to report a massive loss for tax purposes, but the factories' cost has to be amortized over not only the ENTIRE production run of any individual model made in that plant, but every vehicle made in that plant moving forward. For battery plants (which some of this is for) that amortization is across ALL EV models made now and in the future.
Your angry denials that traditional automakers are losing money on EVs doesn't agree with statements that they themselves make. How do you explain that discrepancy? Ford for example, says that they have the ambition that their *next* generation of EVs will be profitable. Perhaps you can show a reputable source that details the profits that Ford is making on their current generation of EVs?
ICE vehicles and hybrids also require R&D expenditures, manufacturing and marketing expenditures, etc. The traditional automakers are showing big profits there, in sharp contrast to their EV programs. Why are they saying these things if it's not really happening as you insist?
Last edited by OutdoorLover; 04-29-2024 at 10:23 AM..
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