Ford Motor Company has been a willing partner in Joe Biden’s radical electric vehicle agenda.
But the reality of the failing EV market has now forced them to reassess their support of the EV push.
And Ford made one huge announcement about electric vehicles that had Joe Biden banging his fists in rage.
Big Three automaker Ford has been trying to work hand in hand with President Joe Biden to make his electric vehicle dreams a reality.
In 2021 Biden even traveled to a Ford manufacturing plant in Dearborn, Michigan and took the company’s F-150 Lightning truck for a test drive.
“Look, the future of the auto industry is electric. There’s no turning back,” Biden said at the time.
Ford eagerly accepted more than $10 billion in taxpayer subsidies from the Biden administration to help them build new battery plants in Kentucky and Tennessee.
But now the automaker is being forced to rethink its entire electric future because of market realities.
Ford says more delays in electric vehicle manufacturing loom
Ford recently announced that it was postponing the roll out of two highly anticipated electric vehicles from 2025 to 2027.
The automaker is pushing back the launch of the pair of planned three-row electric SUVs that were going to be built at its Oakville, Ontario production facility.
SUVs are among the most popular – and most profitable for automakers – gasoline-powered vehicles on the road today.
“The additional time will allow for the consumer market for three-row EVs to further develop and enable Ford to take advantage of emerging battery technology,” the company said in a statement announcing the delays.
Instead, the company has decided to focus on expanding its lineup of hybrid vehicles.
Ford also announced that its all-new electric pickup truck to be assembled in Tennessee will be pushed back from late 2025 to 2026.
Automakers got a rude wake-up call from drivers about electric vehicles
Automakers have been ramping up production of electric vehicles to try and meet Biden’s ambitious goal to force all Americans into EVs.
But extremely weak consumer demand for EVs and growing financial losses are forcing Ford and other companies to shift direction.
“Ford’s electric vehicle business lost $4.7 billion before interest and taxes in 2023. By contrast, the division that makes gasoline and hybrid vehicles for consumers made a $7.5 billion profit,” The New York Times reported.
In fact, the F-150 Lightning truck touted by Biden costs Ford roughly $38,000 on everyone the company sells.
Due to the growing concerns, and financial losses, one of Ford’s planned battery plants in Kentucky has now been indefinitely postponed.
And production has been cut for the electric F-150 and workers at the Dearborn EV plant transferred to a nearby production facility to work on gasoline-powered trucks and SUVs.
Guidehouse Insights transportation analyst Sam Abuelsamid told The Times that automakers got too far ahead of themselves going electric.
“Many companies rushed in too fast with E.V.s that were too expensive and there was not as much of a market for them as they thought,” Abuelsamid said. “That’s made it a lot tougher to sell those vehicles.”
Ford joins a long list of automakers including GM, Mercedes-Benz, Honda, and Bentley who have postponed or scaled back their electric vehicle goals.
The auto industry is being forced to adjust their EV plans after consumers gave these expensive, unreliable Bidenmobiles the cold shoulder.
Joe Biden’s EV plans have hit another major roadblock.
Political Animal News will keep you up-to-date on any new developments in this ongoing story.