But until that day comes, it turns out most people simply don’t want one.$100 million in EV revenue over the first quarter of 2024. That sounds good until you learn it is an 84% drop from last year. It sounds even worse when you learn that, factoring in costs, Ford lost $1.3 billion on EVs over that period, averaging a $132,000 loss per EV sold.
You can throw it on the pile of EV losses. Ford has already postponed $12 billion in spending and investment on EVs, while Hertz had to eat a multimillion-dollar loss by20,000 EVs from its rental car fleet for lack of demand. From high repair costs to battery problems to less reliable travel, electric vehicles remain inferior to gas-powered cars. Even the climate matter is a massive question mark when it comes to lithium mining for EV batteries.
None of this changes the Democratic ideal, though. You will be forced into an electric vehicle and will pay for it both out of pocket and with taxpayer subsidies to the companies that are eating these losses in the first place. “Saving the planet” doesn’t come cheap, especially when you aren’t saving it in the first place.
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