Ford Going Broke as it Goes Woke
Ford Motor Company recently announced it is on track to lose $4.5 billion this year on its electric vehicle (EV) business, more than double what it lost in 2022.
The brand that revolutionized car manufacturing and delivered world class muscle cars like the Shelby Mustang has gone woke. Their European division, bowing to the woke forces of ESG, pledged it was going full electric by 2030.
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To help staunch the bleeding, Ford will rely on government handouts under the poorly named Inflation Reduction Act, that offers as much as $7,500 per vehicle in taxpayer-provided incentives to buy electric vehicles.
Image Credit: CNBC
To take advantage of the Biden administration’s EV handouts, it needed to produce the batteries in the United States, but Ford doesn’t make the batteries for its EV ambitions; it buys them from China, which is engaging in genocide against its Muslim Uyghur population.
Image credit: Wikimedia Commons
In February, Ford announced a deal to open a battery plant in Michigan, working with Contemporary Amperex Technology Co., Limited (CATL), a Chinese battery firm, meaning the government handouts Ford is counting on to make its EVs profitable will end up benefitting America’s chief strategic rival, a step that lawmakers are investigating.
Image Credit: Reuters
If you think that your tax dollars shouldn’t be used to finance Ford’s woke agenda or China’s economy, write them at Ford Motor Company, Customer Relationship Center, P.O. Box 6248, Dearborn, MI 48126 or call 1-800-392-3673 (Mon-Fri 8 a.m. – 11 p.m. EST, Sat 8 a.m. – 8 p.m.)