As the push for electric vehicles persists despite public reluctance, the once-promising solution for environmental concerns is revealing significant drawbacks. Issues like inadequate charging infrastructure, limited range, battery problems, high repair costs, and supply chain disruptions have plagued the industry.
Despite these challenges, proponents like Joe Biden continue to advocate for electric vehicles. However, the lack of consumer interest has led to substantial financial losses for manufacturers. Ford Motor Company, for instance, reported a staggering $4.7 billion loss in 2023 from its electric vehicle product line, exceeding earlier projections.
The company attributed the losses primarily to intense competition driving down prices. With Ford selling around 72,608 electric vehicles in the year, the losses translate to roughly $65,000 per vehicle sold, an unsustainable business model. Moreover, Ford anticipates further losses, projecting up to $5.5 billion for 2024, particularly concerning in an election year.
Despite Chief Financial Officer John Lawler’s optimistic remarks about future profitability and customer adoption, the reality suggests otherwise. Ford’s flagship electric vehicle, the F-150 Lightning pickup, saw diminished demand, leading to production cuts. This setback is notable, especially as Biden’s administration aimed for 50% of new vehicle sales to be electric by 2030.
Watch Biden test drive the Ford Lightning pickup here:
General Motors has also dialed back production and tempered expectations, posting a $1.7 billion loss on electric vehicles in just the fourth quarter of 2023. Ford went on to state: “We said yesterday that we will launch our second-generation EVs when they can be profitable and deliver the kind of returns we want, and we will build a stand-alone profitable EV business. Meantime, we’re improving the contribution margin of our first-generation EVs.”
Very sad ,39 minutes ago in Chicago, “America’s Got Talent” Simon Cowell, he has been confirmed as…see mor
Justin Drew Bieber born March 1, 1994) is a Canadian singer. He is recognized for his genre-melding musicianship and global influence in modern-day popular music. Bieber was discovered by American record executive Scooter Braun and signed with RBMG Records in 2008, gaining recognition with the release of his debut seven-track EP My World (2009) and soon establishing himself as a teen idol.
which became one of the best selling singles of all time in the US. His second studio album, Under the Mistletoe (2011), became the first Christmas album by a male artist to debut at number one in the US.
Bieber experimented with dance-pop in his third studio album, Believe (2012), and went on to become the first artist in history with five US number-one albums by the age of 18. From 2013–14, Bieber was involved in multiple controversies and legal issues, which had a drastic impact on his public image.In 2015, Bieber explored EDM with Jack Ü as a lead vocalist on “Where Are Ü Now”, which won the Grammy Award for Best Dance/Electronic Recording. The song’s musical direction played an instrumental role in his fourth studio album, Purpose, which produced three US number-one singles: “Love Yourself”, “Sorry”, and “What Do You Mean?”
He became the first artist in history to occupy the entire top three of the UK Singles Chart. Bieber diversified on numerous collaborations between 2016 and 2017, including “I’m the One” and his remix to “Despacito”—both reaching number one on the US Billboard Hot 100 a week apart, making him the first artist in history to chart new number-one songs in consecutive weeks.
“Despacito” was named the greatest Latin song of all time by Billboard and earned Bieber his career-first Latin Grammy Award. In 2019, he released a country collaboration with Dan + Shay, “10,000 Hours”, which won the Grammy Award for Best Country Duo/Group Performance.
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