Locator: 48485EVS.
Updates
August 23, 2024: link here. Another write-down.
Original Post
Canceling plans .... not just delaying development and/or production but canceling plans.
Ford Motor’s decision this week to kill a highly touted future electric vehicle is a sign that the industry’s pullback on EVs is deepening.
The Dearborn, Michigan, automaker said Wednesday it is canceling plans for an electric, family-hauler sport-utility vehicle that Chief Executive Jim Farley once touted as a “personalized bullet train.”
The move added to the drumbeat of news from carmakers of delayed or scrapped investments into EV models, factories and battery projects.
General Motors, Volkswagen, Mercedes and other automakers also have curbed their EV ambitions in recent months.
Taken together, the walked-back plans are an acknowledgment that the big investments outlined at the start of the decade got ahead of the consumer’s appetite for a full switch to EVs.
While surveys have shown that as many as half of U.S. consumers are open to buying an electric car, their relatively high prices and concerns over charger availability are dissuading many. EV sales in the U.S. and other regions are still growing, but the pace of the increase has decelerated sharply, despite many new models hitting the market.
Reminder from earlier this summer --
- July 25, 2024: holy mackerel! Ford reports massive losses on EVs and warranty costs.
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Wind
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