Drill baby drill. Ford retreats from EVs.
Looks as if this is the first shot against one of the great green catastrophic events in my lifetime. The combustion engine is here to stay. In those famous words popularized by Sarah Palin. Drill baby drill.
Why my excitement? Ford discontinued production of the F-150 Lightning pickup truck amid sluggish sales of electric vehicles, losing about $13 billion on EVs since 2023 – Farley says the path to survival lies in ditching these unprofitable models.
“We can’t allocate money for things that will not make money,” he told Reuters on Monday. “As much as I love those products, the customers in the U.S. were not going to pay for them. And that was the end of that.”
Ford said it will pivot hard into gas and hybrid models, and eventually hire thousands of workers
