The moment Joe Biden started pushing his radical green agenda, companies rushed to capitalize on it. Biden shut down America’s oil and gas industry, forcing the price of energy to skyrocket. At the same time, he burned through taxpayer dollars to bankroll “environmentally friendly” alternative sources of energy.
Some companies noticed how the wind was blowing and hastily tried to take advantage of it. One major car company sunk billions into advancing its electric vehicle lineup. They clearly believed that, thanks to Joe’s war on American energy, Americans would be eager to buy overpriced cars, just as interest rates for car loans went through the roof.
They were wrong.
On Thursday, the Ford Motor Company said that they anticipate their Electric Vehicle division to lose $3 billion in 2023 following financial losses over the last two years — $2.1 billion in 2022 and $900 million in 2021…
The company has committed to manufacturing only electric cars by the year 2040 and has plans to build electric battery plants in Michigan, Kentucky, and Tennessee. [Source: The Post Millennial]
You might want to rethink those plans, Ford. Biden tried to destroy America’s energy industry, forcing the country to “transition” (by force) from fossil fuels to alternatives like wind and solar (which don’t work). Companies like Ford must have wanted to virtue signal to the liberal base by vowing to be all-electric in just a few years.
What they failed to realize was that the COVID-induced car shortage lingered from 2020, into 2021 and 2022. Car prices have been rising, thanks to China shutting down its semiconductor factories. Car prices are nearly double what they were a few years ago, including used cars. Electric cars are already much more expensive than gas-powered cars. So, who is going to plunk down tens of thousands of dollars for an EV, right in the middle of the recession?
Even gas is cheaper than spending nearly $80,000 on a new electric car.
Only Joe Biden and his environmental cult are excited about “transitioning” away from cheap, reliable fossil fuels. On top of that, Biden’s inflation has forced the Feds to hike up interest rates several times already. Meaning getting a new loan for a car is the last thing most Americans want to do. Ford horribly miscalculated, refusing to pay attention to their customers and the economy.
The geniuses at the company tried to dismiss those massive losses by saying all “start-ups” suffer losses at the beginning. Um… except, Ford isn’t a start-up. It is a company that has been around for over 100 years. It lost billions because of bad planning, terrible timing, and pushing an unwanted product.
All because they were listening to old Joe.
Author: Bo Dogan