Ford committed $5.6B for an EV complex in Tennessee “Blue Oval City”, to build what? Electric F-150s. Why F-150s? Big pickups and SUVs are the most profitable products, so that is all they want to build.
So what does CEO Farley say now?
“But for larger retail electric utilities, the economics are unresolvable,” Farley said. “These customers have very demanding use cases for an electric vehicle. They tow, they go off-road, they take long road trips. These vehicles have worse aerodynamics and they’re very heavy, which means very large and expensive batteries. Retail customers have shown that they will not pay any premium for these large EVs, making them a really tough business case given the expense in the batteries.”
https://fordauthority.com/2025/02/ford-ceo-jim-farley-says-large-retail-oriented-evs-arent-viable/
Duh!
So, is Farley going to entertain shareholders with a multi-Billion write off for Q2?
Steve