<a href="https://www.dailywire.com/topic/ford-motor-co" target="_blank" rel="noopener">Ford Motor Co.</a> announced on Thursday that it is delaying the production of two new electric vehicles and that it will instead focus on making more hybrid vehicles as consumer demand for electric vehicles continues to plummet.
The launch of at least two new three-row electric vehicles will be delayed from 2025 to 2027, the company said in a statement.
&#8220;The additional time will allow for the consumer market for three-row EVs to further develop and enable Ford to take advantage of emerging battery technology,&#8221; the company claimed.
&#8220;In parallel, Ford is expanding its hybrid electric vehicle offerings,&#8221; the company said. &#8220;By the end of the decade, the company expects to offer hybrid powertrains across its entire Ford Blue lineup in North America.&#8221;
The New York Times <a href="https://www.nytimes.com/2024/04/04/business/ford-delays-electric-vehicles.html" target="_blank" rel="noopener">reported</a>:
<blockquote>Ford’s electric vehicle business lost $4.7 billion before interest and taxes in 2023. By contrast, the division that makes gasoline and hybrid vehicles for consumers made a $7.5 billion profit.</blockquote>
“Many companies rushed in too fast with E.V.s that were too expensive and there was not as much of a market for them as they thought,” Sam Abuelsamid, principal analyst for transportation and mobility at the research firm Guidehouse Insights, told the Times. “That’s made it a lot tougher to sell those vehicles.”
Numerous companies have been forced to <a href="https://www.dailywire.com/news/apple-ends-multi-billion-dollar-effort-to-build-electric-cars" target="_blank" rel="noopener">scrap their plans</a> to build electric cars, <a href="https://www.dailywire.com/news/mercedes-scraps-plan-to-only-sell-electric-vehicles" target="_blank" rel="noopener">cancel their plans</a> to go all electric, or in some cases are <a href="https://www.dailywire.com/news/ev-startup-fisker-halts-production-to-raise-emergency-funds-amid-cash-crunch-from-low-demand" target="_blank" rel="noopener">struggling</a> just to stay in business.
Consumers regularly have complained about the high prices of electric vehicles, their quality and reliability, the lack of charging stations, the time it takes to charge them, how inconvenient they can be, and their significantly decreased performance during cold weather conditions.
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Former President Donald Trump has <a href="https://www.dailywire.com/news/trump-campaign-vows-to-reverse-bidens-new-extreme-electric-vehicle-mandate" target="_blank" rel="noopener">vowed</a> to undo President Joe Biden&#8217;s electric vehicle mandate if he is re-elected this fall.
“Joe Biden’s extreme electric vehicle mandate will force Americans to buy ultra-expensive cars they do not want and cannot afford while destroying the U.S. auto industry in the process,” a Trump campaign spokesperson said in a statement. “This radical policy is anti-jobs, anti-consumer, and anti-American. It will destroy the livelihoods of countless U.S. autoworkers while sending the U.S. auto industry to China.”
“President Trump will reverse Joe Biden’s extreme electric vehicle mandate on Day One,” the statement continued. “He will protect the freedom of Americans to drive whichever vehicle they choose, enhance President Trump’s tough tariffs on Chinese-imported cars, and save the U.S. auto industry for generations to come.”
Related: <a href="https://www.dailywire.com/news/watch-buttigieg-mocks-people-who-dont-want-electric-vehicles" target="_blank" rel="noopener">WATCH: Buttigieg Mocks People Who Don’t Want Electric Vehicles</a>

2018 Geneva Motor Show – 2nd Press Day

Ford Delays Production Of New Electric Vehicles By Years As Consumers Sour On EVs

Business

Economy

Electric cars

Ford Motor Co.

Tesla

<a href="https://www.dailywire.com/topic/ford-motor-co" target="_blank" rel="noopener">Ford Motor Company</a> is planning to contract technology from several Chinese companies that work for the China&#8217;s communist government and military, as well as the North Korean government.
The revelations were made in letters released this week by Rep. Mike Gallagher (R-WI), chairman of the House Select Committee on the Chinese Communist Party, and Rep. Cathy McMorris Rodgers (R-WA), chairwoman of the House Committee on Energy and Commerce.
Ford has come under intense scrutiny for months over its partnership with Chinese electric vehicle battery manufacturer Contemporary Amperex Technology (CATL). The scrutiny comes as Ford has <a href="https://www.cnbc.com/2023/03/22/ford-to-break-out-ev-business.html" target="_blank" rel="noopener">lost billions</a> of dollars on trying to produce electric vehicles and recently had to announce that they were <a href="https://www.dailywire.com/news/ford-cuts-production-of-electric-truck-they-touted-as-the-future-hiring-hundreds-to-build-more-gas-vehicles" target="_blank" rel="noopener">cutting back</a> the employees manufacturing the electric vehicles because the demand for them is so low that Ford is cutting their production <a href="https://www.dailywire.com/news/ford-to-slash-planned-production-of-its-all-electric-f-150-in-half-citing-changing-market-demand" target="_blank" rel="noopener">in half</a>.
The four troubling companies that Ford is doing business with were included in Ford’s signed agreements with CATL, the letters <a href="https://selectcommitteeontheccp.house.gov/sites/evo-subsites/selectcommitteeontheccp.house.gov/files/evo-media-document/1.22.2024-letter-to-ford.pdf" target="_blank" rel="noopener">said</a>. The companies &#8220;will be intimately involved&#8221; in the proposed U.S. battery facility&#8217;s design, construction, and information technology (IT) processes.
The names of the four companies were redacted in letters to Commerce Secretary Gina Raimondo and Treasury Secretary Janet Yellen that recommended that the U.S. government launch investigations into the companies&#8217; &#8220;direct ties to the [Chinese military], the [Chinese Communist Party], China’s Ministry of Public Security, the ongoing genocide of Uyghur Muslims in Xinjiang, and the North Korean government.&#8221;
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&#8220;It is unconscionable for Ford to purchase critical IT infrastructure from a Chinese company that facilitate sanctions evasion activity on behalf of the North Korean government,&#8221; the letter said. &#8220;Indeed, this poses significant cybersecurity risks, including the potential for malicious actors to exploit the very connections and data flows iPaaS tools are designed to facilitate. The same company that is supplying IT products and software to entities that support the North Korean government will have the capability to embed backdoors, spyware, and other forms of malware within Ford’s iPaaS infrastructure, which could compromise the confidentiality and integrity of Ford’s sensitive information.&#8221;
Related: <a href="https://www.dailywire.com/news/joe-manchin-slams-ford-for-partnering-with-chinese-company-to-build-batteries-im-totally-opposed" target="_blank" rel="noopener">Joe Manchin Slams Ford For Partnering With Chinese Company To Build Batteries: I’m ‘Totally Opposed’</a>

In this photo illustration the American multinational

Ford Contracting Technology From Chinese Firms That Work For China’s Military, North Korea

Ford Contracting Technology From Chinese Firms That Work For China's Military, North Korea

Communist China

North Korea

U.S.

<a href="https://www.dailywire.com/topic/ford-motor-co" target="_blank" rel="noopener">Ford</a> said this week that it will make significant cuts to the number of employees who produce its touted F-150 Lightning truck as demand for electric vehicles continues to plummet.
Bloomberg News <a href="https://www.bloomberg.com/news/articles/2024-01-19/ford-cuts-production-of-f-150-lightning-electric-truck" target="_blank" rel="noopener">reported</a> that 1,400 employees will be cut from production at the Rouge Electric Vehicle Center, which is cutting all the way back to having a single shift.
Ford planned to produce around 3,200 F-150 Lightnings per week in 2024 at the Rouge Electric Vehicle Center in Dearborn, Michigan, which assembles all of the electric pickup trucks produced by Ford. Ford <a href="https://www.dailywire.com/news/ford-to-slash-planned-production-of-its-all-electric-f-150-in-half-citing-changing-market-demand" target="_blank" rel="noopener">announced</a> last month that it was cutting its production of the trucks in half, all the way down to 1,600 per week.
Ford has slashed $12 billion in EV investments as it struggles to sell its all-electric vehicles to consumers who have numerous concerns about transitioning from gas to electric, especially as retail prices for most EVs remain high.
Bloomberg News noted that the demand for gas vehicles remained so strong that the automaker was hiring approximately 900 new employees and transferring 700 employees who are being pulled off the F-150 Lightning to its Michigan Assembly plant to create a third shift of workers.
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The news comes after Hertz, one of the largest rental car companies in the U.S., <a href="https://www.dailywire.com/news/hertz-dumping-tens-of-thousands-of-electric-vehicles-replacing-them-with-gas-vehicles" target="_blank" rel="noopener">announced</a> last week that it was dumping tens of thousands of electric vehicles from its fleet, citing low demand and high repair costs.
“The dramatic about-face, after Hertz announced plans in 2021 to buy 100,000 Tesla Inc. vehicles, underscores the waning demand for all-electric cars in the US,” Bloomberg News reported. “EV sales growth slowed sharply over the course of 2023, rising just 1.3% in the final quarter as consumers were put off by high costs and interest rates.”
U.S. consumers have had serious concerns about the electric vehicle market ranging from the price of the vehicles and the serious lack of charging stations throughout the U.S. to electric vehicles experiencing dramatic losses in their driving range during weather conditions that feature extreme cold or heat.
“The elevated costs associated with EVs persisted,” Hertz Chief Executive Officer Stephen Scherr said. “Efforts to wrestle it down proved to be more challenging.”
The company hopes that its decision to sell off 20,000+ electric vehicles better balances “supply against expected demand of EVs,” it said in a regulatory filing.
Morgan Stanley analysts said told Reuters that Hertz’s move should be a warning to the entire auto industry about the reality of the electric vehicle market, that they are not that popular and expectations for their growth need to be significantly reduced.
The news comes after nearly 4,000 auto dealers across the U.S. said in a letter to President Joe Biden late last year that his push to make two out of every three new cars sold by 2032 electric was highly unrealistic.
While there were good options for people wishing to buy electric vehicles, “the reality, however, is that electric vehicle demand today is not keeping up with the large influx of BEVs [Battery Electric Vehicle] arriving at our dealerships prompted by the current regulations. BEVs are stacking up on our lots.”
The dealerships said they’ve seen a drastic shift in demand for electric vehicles in just the last year and that they are arriving on their lots faster than they can be sold despite “deep price cuts, manufacturer incentives, and generous government incentives,” the letter said.
“Mr. President, no government agency, no think tank, and no polling firm knows more about the automobile customer than us,” it continued. “Some customers are in the market for electric vehicles, and we are thrilled to sell them. But the majority of customers are simply not ready to make the change.”
Zach Jewell contributed to this report.

U.S.-DETROIT-AUTO SHOW-NAIAS

Ford Cuts Production Of Electric Truck They Touted As The Future; Hiring Hundreds To Build More Gas Vehicles

Gasoline

Less than a year after Ford announced it would increase production of the all-electric F-150 Lightning, the motor company has reportedly decided to cut that projected boost in half beginning in 2024. 
Earlier this year, Ford planned to produce around 3,200 F-150 Lightinings per week at its Rouge Electric Vehicle Center in Dearborn, Michigan, which assembles all of the electric pickup trucks produced by Ford. Beginning in January, however, Ford will drop its production of the F-150 Lightning down to 1,600 per week, CNBC <a href="https://www.cnbc.com/amp/2023/12/11/f-150-lightning-ford-cuts-2024-production-plans-in-half.html" target="_blank" rel="noopener">reported</a>, citing a source familiar with the decision.  
A memo sent to suppliers and obtained by <a href="https://www.autonews.com/manufacturing/ford-cutting-f-150-lightning-ev-production-half-memo-says" target="_blank" rel="noopener">Automotive News</a> said the EV production cuts are due to “changing market demand.” A Ford spokesman simply told CNBC that the company would “continue to match production with customer demand.&#8221; 
The reported cuts come in the wake of Ford slashing $12 billion in EV investments as the motor company struggles to sell its all-electric vehicles to consumers who still appear to have concerns about transitioning from gas to electric, especially as retail prices for most EVs remain high. 
So far, Ford has sold more than 20,000 F-150 Lightnings this year, up 54% from last year, according to CNBC. The increase in sales was bolstered by the motor company’s decision to slash the F-150 Lightning’s price by $10,000 over the summer, meaning the most affordable version of the truck is now $50,000. Meanwhile, drivers can purchase a gas-powered F-150 SuperCrew for around <a href="https://finance.yahoo.com/news/ford-slashes-f-150-lightning-ev-production-to-match-customer-demand-164345409.html" target="_blank" rel="noopener">$40,000</a>. 
Ford’s planned cuts to EV production also come on the tail end of a $9.2 billion loan from the Biden administration intended to help construct three electric vehicle battery plants as the federal government under Biden continues to push American companies and consumers toward electric alternatives in the name of fighting climate change. 
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Ford has <a href="https://www.dailywire.com/news/ford-loses-billions-on-electric-cars-embraces-hybrids" target="_blank" rel="noopener">projected</a> it will lose $4.5 billion on EVs this year, and the motor company said it lost around $32,000 for every EV it sold during the second quarter of 2023. Ford is also delaying production at a battery plant in <a href="https://finance.yahoo.com/news/ford-slashes-f-150-lightning-ev-production-to-match-customer-demand-164345409.html" target="_blank" rel="noopener">Kentucky</a> and significantly reduced its commitment to a battery plant in <a href="https://www.dailywire.com/news/whitmer-orders-all-state-government-vehicles-to-be-100-electric-days-after-signing-extreme-green-energy-bill" target="_blank" rel="noopener">Michigan</a>, cutting 800 jobs and more than $1 billion.

Ford F-150 Lightning

Ford To Slash Planned Production Of Its All-Electric F-150 In Half Citing ‘Changing Market Demand’

electric vehicles

Energy

Trucks

Michigan state government agencies must move to 100% “zero-emission” vehicles (ZEVs) by 2040, per an executive order signed by Democratic Governor <a href="https://www.dailywire.com/topic/gretchen-whitmer" target="_blank" rel="noopener">Gretchen Whitmer</a> on Tuesday.
Whitmer’s order requires state agencies to shift the state government’s fleet of around <a href="https://www.michigan.gov/-/media/Project/Websites/dtmb/Law-and-Policies/Legislative-Reports/FY2021/2021_Fleet_Plan.pdf?rev=f9a5c6589b5e492f8f92af8ea6eb3150" target="_blank" rel="noopener">9,000 vehicles</a> to electric beginning with light-duty cars by 2033 and moving on to medium- and heavy-duty vehicles by 2040. The governor’s directive came just a week after she <a href="https://www.dailywire.com/news/gretchen-whitmer-signs-one-of-the-nations-most-extreme-green-energy-mandates" target="_blank" rel="noopener">signed</a> one of the most extreme green energy bills in the nation, requiring utility providers to transition to completely carbon-free energy generation by the end of the next decade.
“Michigan is on the cutting-edge of mobility and electrification,” Whitmer’s executive directive <a href="https://content.govdelivery.com/attachments/MIEOG/2023/12/05/file_attachments/2706506/ED%202023-5%20%28signed%29.pdf" target="_blank" rel="noopener">stated</a>. “Our world-leading auto industry is making the switch to electric, and we continue to attract battery, semiconductor, and clean energy investments from other states and nations. We must usher the future of mobility and clean energy into Michigan by winning projects and leading by example in state government.”
“Getting this done will help drive demand of Michigan-made electric vehicles, lower gas and maintenance costs for the state since ZEVs cost far less to fuel and maintain and reduce air and noise pollution in our communities,” Whitmer added in a <a href="https://michiganadvance.com/blog/whitmer-signs-directive-transitioning-the-states-fleet-to-zero-emission-vehicles-by-2040/" target="_blank" rel="noopener">statement</a>.
The executive order was short on details about the cost of transitioning the entire state government’s fleet of vehicles to electric. A 2021 <a href="https://www.michigan.gov/-/media/Project/Websites/dtmb/Law-and-Policies/Legislative-Reports/FY2021/2021_Fleet_Plan.pdf?rev=f9a5c6589b5e492f8f92af8ea6eb3150" target="_blank" rel="noopener">report</a> from the Michigan Department of Technology, Management, and Budget stated that the Michigan government has 8,788 on-road vehicles, which include dozens of buses and semi-trucks. Among the state agencies included in Whitmer’s directive is the Michigan State Police, which uses hundreds of coupes and sedans and over 1,000 SUVs for law enforcement.
State agencies can request exemptions from the directive for certain vehicles, but must “offer alternative emission reduction options including hybrids,” according to Whitmer’s press release.
Michigan House Republican Leader Matt Hall slammed Whitmer&#8217;s EV directive, telling The Daily Wire that the Democrats&#8217; EV and green energy push is hurting the automotive industry and hard-working Michiganders.
“Joe Biden and Gretchen Whitmer’s green energy schemes are accelerating the decline of Michigan’s automotive manufacturing industry, and the governor’s decision to replace all of Michigan’s state fleet with electric vehicles is just the latest step on this destructive path,&#8221; Hall said. &#8220;Michigan families have determined that EVs are too expensive and unreliable for them, which is why these vehicles are just sitting on car lots around the state.&#8221;
Whitmer said the switch to EVs will help Michigan car manufacturers that are rapidly moving to EV production as the Biden administration pushes American car companies and consumers to get on board with its <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2023/04/17/fact-sheet-biden-harris-administration-announces-new-private-and-public-sector-investments-for-affordable-electric-vehicles/" target="_blank" rel="noopener">plan</a> to have “50 percent of all new vehicle sales be electric by 2030.” Of the nearly 9,000 vehicles operated by Michigan state government agencies, only three are electric, according to Whitmer’s communications director Bobby Leddy, The Detroit News <a href="https://www.detroitnews.com/story/news/local/michigan/2023/12/05/gov-whitmer-directs-state-govt-vehicle-fleet-to-go-electric/71813588007/" target="_blank" rel="noopener">reported</a>.
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The governor’s executive directive is on par with her push for Michigan car manufacturers to embrace EVs as the future of transportation. In February, Whitmer <a href="https://www.michigan.gov/whitmer/news/press-releases/michigan-won-2500-jobs-3-billion-investment-from-ford-facility-in-marshall" target="_blank" rel="noopener">announced</a> plans for an EV battery plant in Marshall, Michigan, saying it is “expected to create 2,500 good-paying jobs” while helping “support Ford’s goal of producing two million electric vehicles annually by 2026.”
That plan, however, came to a screeching halt in September when Ford <a href="https://www.detroitnews.com/story/business/autos/ford/2023/09/25/ford-motor-company-electric-vehicle-battery-plant-marshall-pausing/70963467007/" target="_blank" rel="noopener">paused</a> the construction of the Marshall battery plant. Now, Ford says it&#8217;s <a href="https://www.freep.com/story/money/cars/ford/2023/11/21/ford-marshall-electric-vehicle-battery-plant-reduce-plans-jobs/71664207007/" target="_blank" rel="noopener">scaling back</a> its commitment to the Marshall plant, cutting 800 jobs and over $1 billion.
Ford, one of Michigan’s “big three” car manufacturers, recently <a href="https://www.dailywire.com/news/ford-gets-9-2-billion-loan-from-biden-admin-for-ev-battery-factories-biggest-check-since-2009-bailouts" target="_blank" rel="noopener">received</a> a $9.2 billion loan from the Biden administration intended to help construct three electric vehicle battery plants — none of which are in Michigan — after the motor company projected the EV push would cost it $3 billion in 2023. That projection was <a href="https://www.dailywire.com/news/ford-loses-billions-on-electric-cars-embraces-hybrids" target="_blank" rel="noopener">bumped up</a> to $4.5 billion in losses over EVs a few months later, meaning Ford lost around $32,000 for every EV it sold during the second quarter of 2023.
“Democrats’ artificially accelerated shift to EVs will eliminate Michigan jobs at existing factories,&#8221; Hall told The Daily Wire. &#8220;And their mandates for unreliable green energy will lead to higher electricity prices on manufacturers — imposing additional costs on Michigan’s automotive industry that will kill more Michigan jobs and move more manufacturing overseas.”

Gretchen Whitmer

Whitmer Orders All State Government Vehicles To Be 100% Electric Days After Signing Extreme Green Energy Bill

Biden Administration

Michigan

Politics

Ford announced on Monday that it is pausing construction on a multi-billion dollar battery plant in Marshall, Michigan that had drawn scrutiny from U.S. lawmakers over the company&#8217;s partnership with Chinese battery-maker Contemporary Amperex Technology Co. Ltd., or CATL.
&#8220;We&#8217;re pausing work, and we&#8217;re going to limit spending on construction at Marshall until we&#8217;re confident about our ability to competitively run the plant,&#8221; Ford spokesman T.R. Reid said in a statement. &#8220;There are a number of considerations, all of which we’re evaluating in terms of our competitiveness.&#8221;
“We haven’t made a final decision about the investment there,&#8221; Reid added, noting that the pause on the $3.5 billion plant was effective immediately.
The statement did not mention the ongoing strikes from the the United Auto Workers (UAW) union, who lashed out after hearing the news.
&#8220;This is a shameful, barely-veiled threat by Ford to cut jobs,&#8221; UAW President Shawn Fain said in a statement. &#8220;Closing 65 plants over the last 20 years wasn’t enough for the Big Three, now they want to threaten us with closing plants that aren’t even open yet. We are simply asking for a just transition to electric vehicles and Ford is instead doubling down on their race to the bottom.&#8221;
The Detroit News <a href="https://www.detroitnews.com/story/business/autos/ford/2023/09/25/ford-motor-company-electric-vehicle-battery-plant-marshall-pausing/70963467007/">noted</a> that when plans for the plant were announced earlier this year that Ford had hoped to be producing 2 million electric vehicles per year by 2026 but the company had to abandon those goals because the market demand is not what the company anticipated.
The announcement came as the <a href="https://www.thestreet.com/technology/ford-pulls-out-all-the-stops-to-revive-a-struggling-brand" target="_blank" rel="noopener">struggling</a> auto brand lost billions of dollars last year under the leadership of CEO Jim Farley in part because of bad investments and poor vehicle quality which has led to expensive recalls, according to a <a href="https://www.nytimes.com/2023/02/02/business/ford-earnings-fourth-quarter-2022.html" target="_blank" rel="noopener">report</a> from The New York Times.
Republicans from the House Committee on Energy and Commerce <a href="https://d1dth6e84htgma.cloudfront.net/09_01_23_E_and_C_Letter_FORD_ae9859a956.pdf" target="_blank" rel="noopener">sent a letter</a> to Farley on September 1 requesting information on the company’s relationship with CATL. The partnership, made in February, <a href="https://www.dailywire.com/news/ford-slammed-for-teaming-up-with-chinese-company-to-build-batteries-becoming-a-national-security-threat" target="_blank" rel="noopener">garnered criticism</a> from some lawmakers who pointed to national security concerns.
“While Ford has labeled this project a ‘commitment to American manufacturing’ and asserts it will create 2,500 new American jobs, we are concerned that Ford’s partnership with a Chinese company could aid China’s efforts to expand its control over United States electric vehicle supply chains and jeopardize national security by furthering dependence on China,” the letter said.
Republicans referenced congressional testimony that said CATL could stop working on the project if tensions between the U.S. and China escalated, leaving the vehicle maker in a bind over how to source batteries for its vehicles. The lawmakers also questioned who would be employed at the plant currently under construction in Marshall, Michigan.
“Additionally, Members learned at this hearing that Chinese companies often supply their own workers to projects in Latin America and Africa, reinforcing fears that CATL will import workers for this facility rather than creating jobs for United States workers,” the letter said.
The GOP lawmakers requested a copy of the licensing agreement between Ford and CATL, along with communications from Ford discussing federal incentives for the project.
“We seek to learn more about whether this partnership, and others like it, will potentially exacerbate our reliance on China. Should China gain control of domestic electric vehicle production, the United States would be exposed to serious national security risks at a time of escalating geopolitical tensions,” the Republicans said.

Germany’s Chancellor Olaf Scholz Officially Opens Ford Motor Co.’s Cologne Electric Vehicle Center

Ford Halts Controversial Battery Plant Amid Strikes From Auto Workers Union

China

Labor Unions

strike

CNN anchor Jake Tapper grilled Ford CEO Jim Farley during an interview this week about the United Auto Workers (UAW) strike that is impacting America&#8217;s big three automakers.
Around 13,000 auto workers <a href="https://www.dailywire.com/news/workers-walk-out-at-three-major-auto-factories-after-biden-predicted-strike-wouldnt-happen" target="_blank" rel="noopener">stopped</a> working as picketing began outside a Ford factory in Wayne, Michigan; a GM assembly plant in Wentzville, Missouri; and a Stellantis Jeep plant in Toledo, Ohio. The strike comes after weeks of negotiations between the union and leadership at the automakers.
A CNN reporter was interviewing Farley when Tapper interrupted her and to point out what the head of the UAW was saying.
&#8220;I just wanted to pass on a question based on something he told me the other day which is that over the last four years, each of the Big Three car manufacturers&#8217; CEOs, in addition to their multimillion dollar salaries, they received on average of 40 percent pay increase,&#8221; Tapper said. &#8220;So why are the auto workers wanting a raise beyond what&#8217;s been asked, why is that so offensive compared to the 40 percent raises they have given themselves?&#8221;
Farley said that the company was &#8220;really open to huge increases&#8221; in the &#8220;double digit&#8221; range, &#8220;increases we have never seen before, 20-plus percent.&#8221;
Farley said that going to 40 percent would put the company out of business and that he refused to cut the company&#8217;s push for electric vehicles, despite <a href="https://www.foxbusiness.com/technology/ford-set-lose-billion-electric-vehicles-year-despite-increased-revenue" target="_blank" rel="noopener">losing</a> $4.5 billion in the endeavor.
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&#8220;There&#8217;s a fine line here that we won&#8217;t go past, which is we want everyone to participate in our success. But if it prevents us from investing in this transition to EVs and in future products like the ones we have now, like new F-150, bestselling vehicle in the world — in the U.S., then everyone&#8217;s job is at risk if we don&#8217;t invest,&#8221; he said.
Tapper pushed back, &#8220;It&#8217;s just there have been record auto profits, bailouts by the U.S. government. These huge raises that these CEOs are giving themselves, and I just wonder, why there isn&#8217;t more of a desire of the CEOs to have the workers share in the profits that are coming in to these automakers who just need we remind him were bailed outside by the U.S. taxpayer a few years ago?&#8221;
WATCH:
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
CNN’s Jake Tapper grills Ford CEO Jim Farley why he isn’t giving more to workers when he is making tens of millions of dollars per year. <a href="https://t.co/ikgCtTf03O">pic.twitter.com/ikgCtTf03O</a>
&mdash; Jason Rantz on KTTH Radio (@jasonrantz) <a href="https://twitter.com/jasonrantz/status/1702904654051541073?ref_src=twsrc%5Etfw">September 16, 2023</a></blockquote>
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2023 North American International Auto Show Held In Detroit, Michigan

Ford CEO Jim Farley On Auto Strike: ‘Transition To EVs’ Is Top Priority Despite Losing $4.5 Billion

Environment

The <a href="https://www.dailywire.com/news/former-union-president-says-auto-workers-feel-abandoned-by-the-democratic-party-as-union-criticizes-bidens-ev-push" target="_blank" rel="noopener">United Auto Workers</a> announced a strike against <a href="https://www.dailywire.com/topic/ford-motor-co" target="_blank" rel="noopener">Ford</a>, General Motors, and Stellantis, as the union demands higher wages and “economic and social justice.”
Around 13,000 auto workers <a href="https://apnews.com/article/auto-uaw-workers-strike-gm-ford-stellantis-7ce3ca9d94b911250d07556b7af376c7" target="_blank" rel="noopener">stopped working</a> as picketing began outside a Ford factory in Wayne, Michigan; a GM assembly plant in Wentzville, Missouri; and a Stellantis Jeep plant in Toledo, Ohio. The strike comes after weeks of negotiations between the union and leadership at the automakers. 
“We didn’t want to be here. We want a fair agreement. We want fair economic and social justice for our members. That’s what this is all about. And it’s a shame,” <a href="https://www.nbcnews.com/business/business-news/live-blog/uaw-strike-ford-general-motors-stellantis-live-updates-rcna105134" target="_blank" rel="noopener">said</a> Shawn Fain, president of the auto workers union. 
The strike is currently only targeted at three factories as the UAW pushes for a 36% pay bump over a four-year period for workers. Ford and GM said they could do 20% and Stellantis put forth a 17.5% increase over four years, according to the Associated Press. 
Other demands by the union are a 32-hour work week with pay for 40 hours, pensions for new employees, and inflation-based pay bumps. 
Prior to the strike, GM outlined that, in addition to the 20% pay increase over four years, the company would add “inflation protection,” increase its contributions to retirement health care savings by 25%, and increase vacation time. GM CEO Mary Barra <a href="https://www.gmnegotiations2023.com/public/us/en/negotiations/home.html" target="_blank" rel="noopener">described</a> the offer as a “compelling and unprecedented economic package.” 
President Joe Biden, who <a href="https://www.axios.com/2023/09/05/uaw-strike-likely-detroit-automakers" target="_blank" rel="noopener">predicted</a> that a strike would not take place, will reportedly discuss the standoff sometime on Friday. 
&#8220;No, I&#8217;m not worried about a strike until it happens. I don&#8217;t think it&#8217;s going to happen,” Biden said on Labor Day. 
Alfredo Ortiz, president and CEO of Job Creators Network, slammed Biden in a statement after the strike, saying that the president was in part responsible for the strike.
&#8220;President Biden is partly responsible for the economically damaging UAW strike because Bidenflation has caused declining real wages and living standards for ordinary workers, resulting in UAW taking this drastic action to swing the wage pendulum in the other direction. Biden&#8217;s pro-union rhetoric, including calling himself the most pro-union president in history, has also contributed to the UAW overplaying its hand with ridiculous compensation demands that threaten the livelihoods of hundreds of thousands of workers, thousands of small businesses that service the big three automakers, and even the automakers themselves,&#8221; Ortiz said.
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Ford said that a strike “could have wide-ranging consequences for our business and the economy. It also impacts the very 57,000 UAW-Ford workers we are trying to reward with this contract.”
Stellantis, who had about 5,800 employees in Ohio stop work making the Jeep Wrangler and Gladiator, said it was “disappointed” by the strike. 
&#8220;We are extremely disappointed by the UAW leadership’s refusal to engage in a responsible manner to reach a fair agreement in the best interest of our employees, their families and our customers,&#8221; a statement from Stellantis said. &#8220;We immediately put the Company in contingency mode and will take all the appropriate structural decisions to protect our North American operations and the Company,” the company added.

United Auto Workers Hold Limited Strikes As Contract Negotiations Expire

Workers Walk Out At Three Major Auto Factories After Biden Predicted Strike Wouldn’t Happen

General Motors

Joe Biden

Missouri

Ohio

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House Republicans are questioning the <a href="https://www.dailywire.com/topic/ford-motor-co" target="_blank" rel="noopener">Ford Motor Company</a> about an electric vehicle battery factory project in <a href="https://www.dailywire.com/topic/michigan" target="_blank" rel="noopener">Michigan</a> and its ties to <a href="https://www.dailywire.com/topic/china" target="_blank" rel="noopener">China</a>. 
Republicans from the House Committee on Energy and Commerce <a href="https://d1dth6e84htgma.cloudfront.net/09_01_23_E_and_C_Letter_FORD_ae9859a956.pdf" target="_blank" rel="noopener">sent a letter</a> to Ford CEO James Farley on September 1 requesting information on the company’s relationship with Chinese company Contemporary Amperex Technology Co. (CATL). The partnership, made in February, <a href="https://www.dailywire.com/news/ford-slammed-for-teaming-up-with-chinese-company-to-build-batteries-becoming-a-national-security-threat" target="_blank" rel="noopener">garnered criticism</a> from some lawmakers who pointed to national security concerns. 
“While Ford has labeled this project a ‘commitment to American manufacturing’ and asserts it will create 2,500 new American jobs, we are concerned that Ford’s partnership with a Chinese company could aid China’s efforts to expand its control over United States electric vehicle supply chains and jeopardize national security by furthering dependence on China,” the letter said. 
The letter referenced a move by Virginia Republican Governor Glenn Youngkin to scuttle a similar potential partnership between Ford and CATL in his state before the Michigan partnership was announced.
“While Ford is an iconic American company, it became clear that this proposal would serve as a front for the Chinese Communist party, which could compromise our economic security and Virginians’ personal privacy,” Youngkin spokeswoman Macaulay Porter <a href="https://richmond.com/news/state-and-regional/govt-and-politics/ford-plant-halted-by-youngkin-would-have-created-2-500-jobs-in-southside/article_9edc230a-95dc-11ed-bdd8-2301b6df2e06.html" target="_blank" rel="noopener">told the Richmond Times-Dispatch</a> at the time. 
In the letter to Farley, Republicans referenced congressional testimony that said CATL could stop working on the project if tensions between the U.S. and China escalated, leaving the vehicle maker in a bind over how to source batteries for its vehicles. The lawmakers also questioned who would be employed at the plant currently under construction in Marshall, Michigan. 
“Additionally, Members learned at this hearing that Chinese companies often supply their own workers to projects in Latin America and Africa, reinforcing fears that CATL will import workers for this facility rather than creating jobs for United States workers,” the letter said. 
The GOP lawmakers requested a copy of the licensing agreement between Ford and CATL, along with communications from Ford discussing federal incentives for the project. 
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“We seek to learn more about whether this partnership, and others like it, will potentially exacerbate our reliance on China. Should China gain control of domestic electric vehicle production, the United States would be exposed to serious national security risks at a time of escalating geopolitical tensions,” the Republicans said. 
Business relations between the U.S. and China have faced increased scrutiny in recent years over intellectual property theft and national security precautions as tensions with China remain high.

CATL battery cell factory

House Republicans Question Ford Over Michigan Electric Vehicle Battery Plant Tied To China

Chinese Communist Party

Congress

Glenn Youngkin

Ford Motor Company expects to lose a whopping $4.5 billion from its electric vehicles (EVs) this year, the company said in its second-quarter earnings report <a href="https://media.ford.com/content/fordmedia/fna/us/en/news/2023/07/27/second-quarter-2023-financial-results.html" target="_blank" rel="nofollow noopener">released</a> Thursday.
The Michigan-based automaker said its all-electric vehicle division, called &#8220;Ford Model e,&#8221; has already <a href="https://www.investopedia.com/ford-shares-fall-ev-warning-f150-recall-7567136" target="_blank" rel="noopener">lost</a> more than $2.8 billion in the first two quarters of this year, including $1.8 billion in the second quarter alone or <a href="https://www.carscoops.com/2023/07/ford-loses-over-32000-per-ev-during-the-second-quarter-shifts-production-goals/" target="_blank" rel="noopener">about</a> $32,000 for every EV Ford has sold.
Ford said the loss reflects the &#8220;pricing environment, disciplined investments in new products and capacity, and other costs.&#8221; The car company struggled to compete with Tesla, which <a href="https://www.carscoops.com/2023/04/elon-musk-is-willing-to-sacrifice-teslas-premium-image-to-take-down-the-likes-of-ford/" target="_blank" rel="noopener">lowered</a> prices for its electric models earlier this year.
Back in March, Ford <a href="https://www.reuters.com/business/autos-transportation/ford-sees-3-billion-pretax-loss-its-ev-business-this-year-2023-03-23/" target="_blank" rel="noopener">expected</a> to lose only about $3 billion from electric vehicles this year, but the company bumped that projection up to $4.5 billion last week.
The disappointing numbers come after Ford made a big push for electric vehicles last year.
The carmaker said it would ramp up its electric vehicle production to 600,000 cars a year by the end of this year. Now, Ford says it will hit that goal next year instead.
In the meantime, Ford executives say the company is working on several new hybrid model cars, which <a href="https://www.ford.com/new-hybrids-evs/" target="_blank" rel="noopener">can operate</a> in either electric mode or gas mode.
“You’re going to see a lot more hybrid systems from us,” CEO Jim Farley said Thursday after the company&#8217;s earnings report was released.
“What the customer really likes is when we take a hybrid system that’s more efficient for certain duty cycles and then we add new capabilities because of the batteries,” Farley said.
Farley said Ford has been &#8220;surprised, frankly&#8221; at the popularity of the hybrid model for the F-150 pickup truck. More than <a href="https://www.cnbc.com/2023/07/28/ford-embraces-hybrids-as-it-loses-billions-on-evs.html" target="_blank" rel="noopener">10% of</a> Ford buyers who purchased the pickup truck bought the hybrid model, he said.
Also, more than half, 56% of Ford customers who bought Ford&#8217;s Maverick pickup truck bought the hybrid version.
“We’re seeing a lot of customers like that combination of using the batteries for something beyond just moving the vehicle,” Farley said. “And so we’re just listening to the market.”
Some of Ford&#8217;s hybrids <a href="https://www.cnbc.com/2023/07/28/ford-embraces-hybrids-as-it-loses-billions-on-evs.html" target="_blank" rel="noopener">allow</a> users to plug power tools into the car&#8217;s battery or plug in a refrigerator for a tailgate party.
Ford is still moving forward with its plans for electric cars, but may take quite a while for the company to start profiting from them.
Ford sold only 34,000 electric vehicles and hybrids combined in the second quarter of this year, and only 61,575 electric vehicles in the U.S. in all of last year. Some experts <a href="https://cleantechnica.com/2022/11/16/ev-makers-are-not-losing-hundreds-of-thousands-of-dollars-on-every-car-sold/" target="_blank" rel="noopener">say</a> it takes about 100,000 cars sold to even start turning a profit on a new model.
However, the company also touted that its electric vehicle revenue is up 39% and that Ford maintains low prices for electric cars, &#8220;further establishing leadership ahead of [the] industry’s next-generation EVs.&#8221;
Ford still turns a massive profit thanks to other sectors of the company, raking in $45 billion in the second quarter with a net income of $1.9 billion.
The automobile industry as a whole has raced to adapt ahead of potential government regulations that would require them to produce more electric cars, with car companies spending tens of billions of dollars to develop electric models.
In April, the Biden administration&#8217;s Environmental Protection Agency proposed a requirement that would <a href="https://www.reuters.com/business/autos-transportation/us-proposes-hike-vehicle-fuel-economy-standards-58-mpg-by-2032-2023-07-28/">cut</a> emissions by 56% and result in 67% of new vehicles being electric by 2032.
The Department of Energy has also <a href="https://www.reuters.com/business/autos-transportation/us-proposes-slash-ev-mileage-ratings-meet-fuel-economy-rules-2023-04-11/" target="_blank" rel="noopener">proposed</a> regulations that would push car makers towards electric vehicles, rejecting criticism from some car makers that the rules could cost the auto industry hundreds of billions of dollars in penalties by 2031.

IAA 2021 Munich Auto Show

Ford Loses Billions On Electric Cars, Embraces Hybrids

<a href="https://www.dailywire.com/topic/ford-motor-co" target="_blank" rel="noopener">Ford Motor Company</a> could announce new layoffs as soon as next week &#8212; its third round of layoffs within the last year.
Sources informed <a href="https://www.wsj.com/articles/ford-prepares-new-round-of-layoffs-for-u-s-salaried-workers-a533a7a4?mod=hp_lead_pos5" target="_blank" rel="noopener">The Wall Street Journal</a> that this round of layoffs will primarily affect U.S. salaried workers in the gas, electric vehicle, and software divisions of the company.
The reported layoffs come after the company <a href="https://www.cnbc.com/2022/08/22/ford-to-cut-3000-jobs-primarily-in-north-america.html" target="_blank" rel="noopener">cut 3,000 American jobs</a> last August and announced earlier this year that it would <a href="https://www.wsj.com/articles/ford-to-cut-3-800-jobs-in-europe-in-ev-shift-e1f8f567?mod=article_inline" target="_blank" rel="noopener">reduce its European workforce</a> by 3,800.
The company has struggled to curb its spending as it transitions to electric vehicles and reported a $2 billion net loss last year, all while having committed to spending $50 billion through 2026 in developing its EV unit.
The company <a href="https://media.ford.com/content/fordmedia/fna/us/en/news/2022/03/02/ford-accelerating-transformation.html" target="_blank" rel="noopener">previously reported</a> that it hopes to ramp up annual EV production to two million by 2026 and expects EVs to represent half of its global volume by 2030.
CEO Jim Farley has acknowledged the company will need to spend “billions” to procure materials that would enable an increase in EV production, and the company has <a href="https://www.wsj.com/articles/ford-ceo-jim-farley-grapples-with-problems-from-the-auto-makers-past-b098271c?mod=article_inline" target="_blank" rel="noopener">received criticism</a> from previous CEOs about its operational inefficiencies.
Farley acknowledged that the company has struggled operationally on a February earnings call.
“The strength of our products and revenue has masked this dysfunctionality for a long time. It’s not an excuse, but it’s our reality,” he said.
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The report followed an earlier <a href="https://www.detroitnews.com/story/business/autos/ford/2023/06/22/doe-announces-9-2-billion-loan-plan-for-ford-sk-joint-venturefeds-announce-9-2-billion-loan-for-ford/70345917007/" target="_blank" rel="noopener">announcement</a> from the U.S. Department of Energy that it would loan $9.2 billion to Ford and South Korean battery maker SK &#8212; a loan that covers most of the $11.4 billion the companies had jointly pledged to spend on the venture.
The loan is the most significant financial support the federal government has given an automobile company since the Great Financial Crisis and is the biggest loan the Department of Energy has ever made.
Ford was out-earned by its rival General Motors in 2022, despite GM’s lower revenue and smaller workforce, and Ford’s annual costs are still $7 to $8 billion above where they should be relative to rivals, according to the Journal, though Ford did <a href="https://www.cnbc.com/2023/06/20/ford-ceo-didnt-hesitate-on-the-tesla-deal-its-good-for-customers.html" target="_blank" rel="noopener">report above-expected revenue</a> in its most recent quarterly earnings report.
The Journal also reported that the company would work to separate its gas-engine business from its EV and software sectors. Its EV sector is predicted to lose $3 billion in operating profit this year.
A Ford spokesperson said in a statement that the layoffs are in line with the company’s future business plans.
“As we have said, part of the ongoing management of our business includes aligning our global staffing to meet future business plans, as well as staying cost competitive as our industry evolves,” he said.

Ford

Ford Motor Company To Announce New Layoffs In Coming Weeks: Report

Cars

Unemployment

Ford will receive the largest government check for an automaker since the 2009 bailouts thanks to a $9.2 billion loan intended to help construct three electric vehicle battery plants in the U.S. 
The loan from the Biden administration is aimed at boosting U.S. automakers in their race against China for green technologies and helping the auto industry reach Biden’s bold <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2023/04/12/fact-sheet-biden-harris-administration-proposes-new-standards-to-protect-public-health-that-will-save-consumers-money-and-increase-energy-security/">goal</a> of electrifying 67% of all commercial passenger vehicles sold in the U.S. by 2032, Bloomberg <a href="https://www.bloomberg.com/graphics/2023-ford-ev-battery-plant-funding-biden-green-technology/" target="_blank" rel="noopener">reported</a>. Ford is partnering with South Korean battery company SK On Co. in a venture called BlueOval to build three battery plants in Tennessee and Kentucky. 
&#8220;Major technology transitions have always been accelerated by collaboration between the public and private sectors,&#8221; said Ford Treasurer Dave Webb, <a href="https://finance.yahoo.com/news/ford-sk-joint-venture-set-122417770.html" target="_blank" rel="noopener">according</a> to Reuters.
Biden’s commitment to Ford comes from a department within the EPA known as the Advanced Technology Vehicles Manufacturing (ATVM) loan program. It will be the single largest loan in the history of the program. Ford and SK have already started building the battery manufacturing facilities that will produce more than 120 gigawatt hours annually, the Energy Department said. BlueOval was awarded subsidies by both the Tennessee and Kentucky state governments before receiving the massive loan from the federal government, meaning taxpayers will fund almost all of the cost, according to Bloomberg. 
The multi-billion-dollar loan met criticism from some who are troubled by the federal government’s interference with the free market to promote EVs. Steven Milloy, a lawyer and senior policy fellow with the Energy &amp; Environment Legal Institute who served on former President Donald Trump’s transition team, wondered why the EV sector needed so much help from the government. 
“If EVs are so great why does Ford and its South Korean partner need a $9.2 billion loan from taxpayers to build battery plants?” Milloy <a href="https://twitter.com/JunkScience/status/1671884647033352192" target="_blank" rel="noopener">tweeted</a>. “Why doesn&#8217;t the ESG cartel finance them?”
Ford wants to produce up to two million EVs by 2026. It produced 132,000 EVs last year, and the company projected the EV push would cost Ford $3 billion in 2023. The company is chasing Elon Musk’s Tesla for EV sales in the U.S. and remains far behind the electric car giant. Tesla, which started in 2003, lost money for ten years before finally turning a profit in 2013. Musk’s company made $12.6 billion in 2022, an impressive jump from $5.5 billion in 2021.
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Along with the unprecedented push for EV sales, the Biden administration is expected to crack down on tailpipe emissions for cars made between 2027-2032. In March, the White House released a fact sheet announcing investments for the car industry to get EV sales to make up half of all new vehicle sales by 2030. As part of Biden’s Inflation Reduction Act, which seeks “to bring a clean, safe, affordable, and reliable transportation future to Americans,” certain buyers receive tax credits for purchasing new and used EVs.

Ford Gets $9.2 Billion Loan From Biden Admin For EV Battery Factories

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