https://www.newsbreak.com/share/4465210319262-they-ll-never-make-money-as-ford-ceo-concedes-defeat-after-19-5b-ev-disaster?s=a7&share_destination_id=MzM0NzE4NTM5LTE3Njk3MzAyMDczNDg=&pd=0MeRa7lC&hl=en_US&send_time=1769730207&actBtn=bottomBar&_f=app_share&trans_data=%7B%22platform%22%3A1%2C%22cv%22%3A%2226.3.2%22%2C%22languages%22%3A%22en%22%7D
22 replies (most recent on top)
@10q Troubling
@e9 It was Jim’s call along, marketing experts within the company gave plenty of data that showed we can only sell maybe max 100k EVs a year, nowhere near 2M EVs. But Jim wanted to be like Elon Musk so invested most of the money in EVs.
I think it’s now up to over 40 billion with the SK JV battery plant sacked.
This is what happens when industry gets in the bed with big brother.
Imagine what that 40 billion could have been used for? and I am sure there was a line item for every ICE truck called “BEV capital recovery”
@10d because mgt said "MINE MINE MINE" and couldn't hear anything else
back in 2015 electrical group forcast that for ev to be viable it would need to swap out charged batteries at a fuel station that could be done in 5 min. why did mgt forge ahead anyway?
@ak: Wrong. A bunch of people got fired. The people who decided this didn't.
Imagine an EV this January? Lol the battery would be at half capacity at best.
When the battery fails after 10 years, it's still an EV. Empty Vessel.
@m7 aww, how cute
"Why should they get fired for making shareholders money?"
@d8+1kga7yq3y
The statement above is why most companies are selling the American people out.
I wouldn't allow Billy or Jimmy operate an ice-cream stand.
How to permanently fix this? Make whoever signed off/approved or didn't voice objection to the foolishness of the eV program pay restitution for the losses. F has ZERO leaders, just blind and ignorant managers and executives. Can't wait for Tesla to start building cement mixers. Start raising your building roofs so you can blindly follow. Lead? Why not. Ford can offer the first cement mixers with subscription services. Just what everybody wants! LMAO!
Is that what we are calling it? Shares at an abysmal 12-13 dollars. Poorly performed. Short sited quarterly number go up mentality- which it hasn't- just look. GM, Toyota, ect. So you beat out Stellantis. Bar isnt high - is that where we're at? You cant keep failing architecture and platforms and just layoff workers. Someone's got to be responsible in the c suite for these things.
@ak Why should they get fired for making shareholders money?
@ac The EV meltdown is part of the madness of ESG investing. BF probably made money on the EV venture, sees it as a success. Some investors, grey haired widows, lost on the EV meltdown, but they haven’t noticed yet. The big cost is diversion of talent into hollow pursuits.
Ford's 2025 asset impairment stands as the largest EV-specific reckoning to date, and quit using the word "mobility" - you don't understand how it works. You have to build quality for "mobility" to happen. Cannot build quality with cash getting diverted to the su-king whirlpool that is Model e. But that's ok I guess. Your colleagues in the core of the business will carry your failure on their backs while you throw around terms like "mobility" like you know what it means and what it takes. Drink your latte - report to your train station, and use mobility in a sentence a few more times to feel like you are contributing something meaningful. Do you even work at Ford?
In-the-trench engineer here. Sooooo many of my peers and I saw this writing on the wall. So how much money did GE2 alone torch? SMFH...
Not a $19.5B EV disaster, but a $35.1B one... as per the article... "one detailed breakdown called a $35.1 billion EV fiasco once capital spending, operating losses, and write-downs are tallied"
This investment is not that much in the big picture, and it is not at all losy or sunk. The technologies in BEV are still going to need utilized in future products developed by Skunkworks and Model e.
Even the battery tech and investment will be used in non-mobility sectors.
The worst part: nobody got fired.
Bill Ford and Jim Farley own this.
@a2 i agree with you statement. for some reason wall street nor the press hold senior top officials accountable. sad. bod and senior management have demonstrated they do not know what they are doing.
Profit or did they get burned in the long run thinking this was a one party system like China?
B9illy and Jimmy, along with upper management, have profited from government funding, yet no one has been held accountable or faced consequences for clear management failures.