News From The Former Motor City

This marketing miracle should be filed under the“We lose a little on every sale, but make it up in volume!” strategy.

Ford’s Chief Executive Engineer unveils the Ford F-150 Lightning in 2021, in Dearborn, MI

DETROIT — Ford Motor Co.’s electric vehicle business has lost $3 billion before taxes during the past two years and will lose a similar amount this year as the company invests heavily in the new technology. – Detroit Free Press

Ford said it plans to be producing 2 million of the e-vehicles by late 2026, at which time it should be profitable. Then again, the world should have succumbed to the perils of global warming and/or climate change by then according to Greta-damus, so it may all be moot.

Related:

For many electric vehicles, there is no way to repair or assess even slightly damaged battery packs after accidents, forcing insurance companies to write off cars with few miles – leading to higher premiums and undercutting gains from going electric.

Battery packs can cost tens of thousands of dollars and represent up to 50% of an EV’s price tag, often making it uneconomical to replace them.

Lessons of a long life: it seldom pays to be an early adopter.

I’ve never aspired to be a laggard before.