As the push for electric vehicles persists despite public reluctance, the once-promising solution for environmental concerns is revealing significant drawbacks. Issues like inadequate charging infrastructure, limited range, battery problems, high repair costs, and supply chain disruptions have plagued the industry.
Despite these challenges, proponents like Joe Biden continue to advocate for electric vehicles. However, the lack of consumer interest has led to substantial financial losses for manufacturers. Ford Motor Company, for instance, reported a staggering $4.7 billion loss in 2023 from its electric vehicle product line, exceeding earlier projections.
The company attributed the losses primarily to intense competition driving down prices. With Ford selling around 72,608 electric vehicles in the year, the losses translate to roughly $65,000 per vehicle sold, an unsustainable business model. Moreover, Ford anticipates further losses, projecting up to $5.5 billion for 2024, particularly concerning in an election year.
Despite Chief Financial Officer John Lawler’s optimistic remarks about future profitability and customer adoption, the reality suggests otherwise. Ford’s flagship electric vehicle, the F-150 Lightning pickup, saw diminished demand, leading to production cuts. This setback is notable, especially as Biden’s administration aimed for 50% of new vehicle sales to be electric by 2030.
Watch Biden test drive the Ford Lightning pickup here:
General Motors has also dialed back production and tempered expectations, posting a $1.7 billion loss on electric vehicles in just the fourth quarter of 2023. Ford went on to state: “We said yesterday that we will launch our second-generation EVs when they can be profitable and deliver the kind of returns we want, and we will build a stand-alone profitable EV business. Meantime, we’re improving the contribution margin of our first-generation EVs.”
Welsh rock star Bonnie Tyler said she will never get bored of singing Total Eclipse Of The Heart as she received an MBE at Windsor Castle.
The musician, originally Gaynor Sullivan from Skewen, Wales, has been a dedicated ambassador for the Prince of Wales trust for several years, and she had the opportunity to meet Prince William and his family at Cardiff Castle. Despite not expecting the prince to be a fan of her music, she fondly recalled a kind gesture from their initial encounter. During a concert in Cardiff for the Queen’s Jubilee, the Prince of Wales arrived with Catherine and the children, mentioning that he had played some of her music to his family on the way to the event so they would recognize her.
Upon receiving her MBE from the Prince of Wales, Tyler expressed her delight in engaging in a pleasant conversation with Prince William. She recounted that the Prince wore a warm smile as he inquired about her experiences on tour, expressing his pleasure in seeing her once again. With a career spanning over five decades in the music industry, Tyler has released more than 15 albums. Despite her extensive accomplishments, she remains humble and expressed her gratitude for the opportunity to collaborate with some of the world’s finest producers and songwriters. Reflecting on her recent tour in Brazil and South America, Tyler acknowledged that she receives greater recognition in other countries. Looking ahead, she revealed her upcoming plans for a significant tour later in the year, while also mentioning her upcoming visits to Denmark and Brussels in March.
Leave a Reply