Ford Pays a $19.5 Billion Value After Realizing it Fell for Biden’s EV Rip-off

Ford Pays a $19.5 Billion Price After Realizing it Fell for Biden’s EV Scam

By Bryan Chai
In terms of both customer demand and production cost, the giant push for an all-EV transition has always felt hackneyed and shortsighted.

The administration of former President Joe Biden put quite a few of its figurative eggs in the EV basket, under the larger mission goal of lessening U.S. emissions and helping the environment.

The Biden administration offered unsustainable subsidization to producers and consumers to try and prop up a market for EVs, but even that wasn’t enough for their dreams to be visualized.

And, now that those subsidies have been stripped away by President Donald Trump and his administration, it’s the car manufacturers who are left footing the bill.

That includes Ford Motors.

According to CNBC, Ford “expects to record about $19.5 billion in special items related to a restructuring of its business priorities and a pullback in its all-electric vehicle investments.”

For those who don’t speak corporate jargon, this is Ford’s way of letting investors and shareholders know that it expects to accrue an additional $19.5 billion in one-time or unusual costs.

Based on the figures and the general EV pullback, it’s now readily apparent that the country simply was not ready for the mass adoption of electric vehicles.

Despite that seemingly common-sense knowledge, it’s clear now that multiple car manufacturing titans bought into the Biden lie hook, line, and sinker.

Seriously, think of how deeply embedded petroleum-fueled vehicles are in society. It would take generations — not years, not decades — to fully transition to an all-EV system.

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Ford Admits Defeat After Trying to Force Americans into Electric Cars and Trucks – Ford said Monday it expected to take about $19.5 billion in charges as it retreats from the electric vehicle business, a massive hit as the automaker pivots to traditional gas vehicles along with hybrid and plug-in hybrid models in place of EVs.

The Wall Street Journal reports that in a stunning blow to the U.S. auto industry’s ambitious EV plans, Ford Motor announced on Monday that it expects to incur approximately $19.5 billion in charges, primarily due to its struggling electric vehicle business. The staggering write-down marks the largest impairment taken by a company in Detroit’s history and underscores the challenges faced by automakers as they grapple with lackluster demand for EVs.

Faced with mounting losses totaling $13 billion in its EV division since 2023, Ford has decided to shift its strategy, focusing on bolstering its lineup of gas-powered vehicles while transitioning to hybrid and extended-range electric models that incorporate onboard gasoline engines. The move aims to pull back from loss-making assets and redirect capital to more profitable models.

Ford CEO Jim Farley acknowledged the necessity of the pivot, stating, “Instead of plowing billions into the future knowing these large EVs will never make money, we are pivoting. We now know enough about the U.S. market where we have a lot more certainty in this second inning of reduced-emissions powertrains.”

Under Farley’s leadership, Ford aggressively pursued the EV market. This was in part driven by the economics of EVs, which automakers thought would be much more profitable than traditional gas-powered cars. Breitbart News previously reported on Farley bragging about how much less an EV would cost the company to build:

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As part of its revised strategy, Ford will halt production of the all-electric version of its flagship F-150 pickup truck, known as the Lightning. Instead, the company will focus on an extended-range version of the truck. Ford remains committed to producing a $30,000 EV pickup by 2027, which it says will be the cornerstone of its new low-cost EV lineup.

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