Electric Cars Are Bankrupting the Auto Industry

Listen to the article


ord reported that it’s going to lose $3 billion on electric cars in 2023.

Unlike most automakers, Ford reports its electric vehicle numbers separately, but experts estimate that most car companies are losing similar amounts on the dead end business.

Ford’s investment in Rivian’s electric cars can’t be helping. Last year the startup electric pickup truck maker was spending $220,000 to make the electric vehicles that it sells for $81,000.

That’s bad news for George Soros and for CalPERS: California’s massive public employees retirement fund and a ticking time bomb which owns hundreds of thousands of shares in Rivian.



Please think about donating below. 



Related Posts