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Ford (NYSE: F) Throws In The Towel And Decides To Make Money
Ford Has Been Losing Too Much On EVs
Doug McIntyre and Lee Jackson discuss
Ford's (NYSE: F) surprising decision to convert a Canadian EV plant into one that builds Super Duty trucks, reflecting a broader industry shift. Despite prior commitments to electric vehicles (EVs), Ford seems to be reverting to traditional gas-powered trucks, questioning the feasibility of widespread EV adoption. Concerns about charging infrastructure, battery performance, and consumer demand are leading to skepticism about the government's EV goals. They also highlight the impact on investors, who prefer stable earnings from popular gas-powered vehicles over uncertain EV ventures.
Because, you know, a lot of the people that drive an F-150 are hardworking, you know, blue collar Americans.
And they're never going to buy an electric model.
No, they aren't.
So I have to tell you something.
We're starting to see this.
You're starting to see assembly lines for EVs either being shut down.
I'm going to make a prediction.
More and more of these factories are going to be repurposed back to gas engine cars or hybrids.
The myth that half the cars sold in the United States would be EVs five years from now, which is what the government was talking about and all that.
Car companies were yakking about, that's not going to happen.
If you look at people who thought about an EV, I'm worried I can't find a charging station.
I'm worried how long it takes to charge.
I'm worried how far does it go on a charge.
What if it's a cold winter?
I'm worried that in the wintertime, the full charge doesn't go in.
I'm worried because they eat through tires faster than gas power.
There was a survey recently, a month and a half ago, that said about a third of the people who own an EV said that when they get rid of it, they're going to buy another.
If I buy a car stock, I want to know that they sell a lot of the cars that people want to buy today.
I want to make sure that my payout doesn't go away because the money went toward building some crazy EV plant.
So I think what's happening is the car industry is also tacking back to where it is where Wall Street likes the stocks.
https://www.msn.com/en-us/money/mar...e-towel-and-decides-to-make-money/ar-BB1qQ9Il