{"id":1985421,"date":"2023-07-28T18:49:02","date_gmt":"2023-07-28T22:49:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ford-pushes-back-electric-vehicle-target-admits-transition-will-be-slower-than-the-industry-expected\/"},"modified":"2023-07-28T18:51:36","modified_gmt":"2023-07-28T22:51:36","slug":"ford-pushes-back-electric-vehicle-target-admits-transition-will-be-slower-than-the-industry-expected","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ford-pushes-back-electric-vehicle-target-admits-transition-will-be-slower-than-the-industry-expected\/","title":{"rendered":"Ford delays electric vehicle goal, acknowledges slower transition than anticipated by industry."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fford-pushes-back-electric-vehicle-target-admits-transition-will-be-slower-than-the-industry-expected%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1985421&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Ford Pushes Back Electric Vehicle Target, Admits Transition Will Be &#8216;Slower Than the Industry Expected&#8217;<\/h2>\n<p>Ford Motor Co. announced\u2063 on \u200dThursday that it \u200bis adjusting its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/leftist-magazine-jacobin-facebooks-metaverse-must-be-stopped\/\" title=\"Leftist Magazine Jacobin: Facebook\u2019s 'Metaverse' Must Be Stopped\">production target<\/a> for \u200delectric vehicles (EVs), despite the Biden administration&#8217;s \u2064substantial subsidies to the EV industry.<\/p>\n<p>The\u2064 automaker now \u2064expects to produce 600,000 EVs per year by the end \u2063of \u200b2024, a delay from its previous goal of\u200c reaching that rate by\u200d the\u2064 end of 2023, according to <a href=\"https:\/\/www.cnbc.com\/2023\/07\/27\/ford-pushes-back-ev-target-warns-of-wider-losses.html\" target=\"_blank\" rel=\"noopener noreferrer\">CNBC<\/a>.<\/p>\n<p>Furthermore, Ford has <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-president-trump-met-with-sidney-powell-and-general-flynn-in-oval-office-discussed-deploying-military-naming-powell-as-special-counsel-on-election-fraud\/\" title=\"REPORT: President Trump Met with Sidney Powell and General Flynn in Oval Office \u2013 Discussed Deploying Military, Naming Powell as Special Counsel on Election Fraud\">pushed back<\/a>\u200c its estimate of \u2062reaching a production rate \u2063of 2 million EVs per year to 2026.<\/p>\n<p>Ford, along with other \u200dautomakers, has\u200d received significant subsidies from the\u200c Biden administration to produce <a href=\"https:\/\/www.westernjournal.com\/lefts-electric-vehicle-hopes-dreams-run-wall-evs-piling-lots-no-buyers\/\" target=\"_blank\" rel=\"noopener\">electric\u2064 vehicles<\/a> through policies \u200csuch as the \u2064Inflation Reduction Act. This \u2062<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ford-pushes-back-electric-vehicle-target-admits-transition-will-be-slower-than-the-industry-expected\/\" title=\"Ford delays electric vehicle goal, acknowledges slower transition than anticipated by industry.\">act includes\u2064 tax credits<\/a> for\u2062 EVs and credits for battery \u200cproduction.<\/p>\n<p>&#8220;The transition\u200d to EVs is happening,\u200b it just may take a little longer,&#8221; stated Ford \u200cCFO \u200dJohn Lawler following the second-quarter earnings \u2062results, as reported by CNBC.<\/p>\n<p>Lawler added, &#8220;It will\u200b be a little slower than the industry expected.&#8221;<\/p>\n<p>This change in goals from Ford comes after the company reduced prices by up\u200c to $10,000 for \u2064the electric version of its popular F-150 pickup truck to qualify for the Biden administration&#8217;s $75,000 consumer \u200ctax\u2064 credit, which only applies to\u2064 vehicles under\u2064 $80,000.<\/p>\n<p>Additionally, \u200bthe \u200bnumber of unsold Ford <a href=\"https:\/\/www.westernjournal.com\/huge-drawback-electric-trucks-revealed-ford-lightning-loses-25-range-full-payload\/\" target=\"_blank\" rel=\"noopener\">battery-powered trucks<\/a> and cars in stock has reached 90,000 this year, double the \u2064industry average for cars\u200d held in stock.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Ford <a href=\"https:\/\/twitter.com\/search?q=%24F&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$F<\/a> out with earnings<\/p>\n<p>Interesting results in its electric vehicle\u200c business<\/p>\n<p>Expects to lose $4.5 billion on\u200d its EV line this year<\/p>\n<p>That\u2019s 2x the $2.1\u200c billion it lost on EVs last year<\/p>\n<p>EV sales FELL 2.8% over\u200b the past year<\/p>\n<p>Abandons \u200cplans to make \u200d2 million\u2064 EVs\/year by 2026\u2026 <a href=\"https:\/\/t.co\/HEhsp2EGru\">pic.twitter.com\/HEhsp2EGru<\/a><\/p>\n<p>\u2014 Stephen McBride (@DisruptionHedge) \u200b <a href=\"https:\/\/twitter.com\/DisruptionHedge\/status\/1684914940295938048?\">July \u206228, 2023<\/a><\/p>\n<\/blockquote>\n<p>&#8220;The near-term pace of EV\u2064 adoption \u200bwill\u2064 be a little slower than expected, \u2063which is\u2062 going to benefit early movers like Ford,&#8221; stated Ford CEO Jim Farley in a CNBC statement. &#8220;While\u2064 others are trying to catch up,\u200d we have clean-sheet, next-generation products in advanced development that will blow people away.&#8221;<\/p>\n<p>Ford anticipates an operating loss of $4.5 billion \u2063this year on its electric Model e, having already reported a loss of $1.8 billion for\u200b the second quarter on the product.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The division, called \u200c\u201cFord\u200d Model e,\u201d has already shed about\u200d $1.8\u200d billion in 2023 so \u200cfar. <a href=\"https:\/\/t.co\/YuhbkpXPCl\">https:\/\/t.co\/YuhbkpXPCl<\/a><\/p>\n<p>\u2014 FORTUNE (@FortuneMagazine) <a href=\"https:\/\/twitter.com\/FortuneMagazine\/status\/1685026619499397120?\">July 28, 2023<\/a><\/p>\n<\/blockquote>\n<p>On June 22, Ford and its South Korean business \u200cpartner, SK On, secured a $9.2 billion loan from the\u2062 Biden administration to construct three electric vehicle factories in\u200c the southern U.S.<\/p>\n<p>Less\u2064 than a week later, Ford announced the layoff of\u2063 at least 1,000 North American employees.<\/p>\n<p>Ford \u2063has not yet responded to a request for comment from the Daily\u2062 Caller News \u200bFoundation.<\/p>\n<div class=\"disclaimer\">\n<p><em>All \u200dcontent created by the Daily Caller News Foundation, an \u2064independent and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rnc-chair-issues-warning-to-trump-weeks-before-first-gop-debate\/\" title=\"RNC Chair warns Trump ahead of first GOP debate.\">nonpartisan \u2063newswire service<\/a>,\u2062 is available without charge to any \u2062legitimate news\u200d publisher that can provide a large audience. All republished articles must include our logo, our reporter\u2019s byline, and their DCNF affiliation.<\/em><\/p>\n<p><em>For any\u200b questions about our guidelines or partnering with us, \u200cplease contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/em><\/p>\n<\/div>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\/ford-pushes-back-electric-vehicle-target-admits-transition-will-slower-industry-expected\/\">Ford\u2062 Pushes Back Electric Vehicle Target, Admits Transition Will Be\u2062 &#8216;Slower Than the Industry Expected&#8217;<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\">The Western Journal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ford Motor Co. has announced a delay in its electric vehicle production target, despite significant government subsidies. The company now aims to produce 600,000 EVs annually by the close of 2024, pushing back its original timeline.<\/p>\n","protected":false},"author":2181,"featured_media":1985423,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-1985421","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1985421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2181"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1985421"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1985421\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1985423"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1985421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1985421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1985421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}