Automaker Suffers Major Losses of Billions Due to Electric Vehicle Investments in 2023.

As the push for electric vehicles persists despite public reluctance, the once-promising solution for environmental concerns is revealing significant drawbacks. Issues like inadequate charging infrastructure, limited range, battery problems, high repair costs, and supply chain disruptions have plagued the industry.

Despite these challenges, proponents like Joe Biden continue to advocate for electric vehicles. However, the lack of consumer interest has led to substantial financial losses for manufacturers. Ford Motor Company, for instance, reported a staggering $4.7 billion loss in 2023 from its electric vehicle product line, exceeding earlier projections.

The company attributed the losses primarily to intense competition driving down prices. With Ford selling around 72,608 electric vehicles in the year, the losses translate to roughly $65,000 per vehicle sold, an unsustainable business model. Moreover, Ford anticipates further losses, projecting up to $5.5 billion for 2024, particularly concerning in an election year.

Despite Chief Financial Officer John Lawler’s optimistic remarks about future profitability and customer adoption, the reality suggests otherwise. Ford’s flagship electric vehicle, the F-150 Lightning pickup, saw diminished demand, leading to production cuts. This setback is notable, especially as Biden’s administration aimed for 50% of new vehicle sales to be electric by 2030.

Watch Biden test drive the Ford Lightning pickup here:

General Motors has also dialed back production and tempered expectations, posting a $1.7 billion loss on electric vehicles in just the fourth quarter of 2023. Ford went on to state: “We said yesterday that we will launch our second-generation EVs when they can be profitable and deliver the kind of returns we want, and we will build a stand-alone profitable EV business. Meantime, we’re improving the contribution margin of our first-generation EVs.”

Kelly Rizzo shows incredible strength in the face of grief

Kelly Rizzo announced her new relationship to the world during a 2024 Grammy Awards viewing party. She has now made her relationship with actor Breckin Meyer official on Instagram.

On Tuesday, the widow of comedian Bob Saget wished her partner a happy birthday on social media, which was their first joint message in the public domain. “Grateful for your birthday! Rizzo, 44, wrote on social media, “To the man who is kind, sweet, silly, thoughtful, completely hilarious, handsome, understanding, charming, forever curious, compassionate, witty, warm & wonderful.” “Today should be spent celebrating you forever!🎂❤️🎉,” she continued.

Actress Jana Kramer replied, “I love this so much,” and actress Caitlin Crosby wrote, “Oh it’s instagram offish!!! 🥰🥰🥰.”

Even though Rizzo didn’t require Bob’s daughters’ approval, it was important to her to have their blessing because it fit her perception of what was right in that circumstance.

The journalist remarked, “It would be wonderful to think that Bob would want me to be happy too, but to hear it from them is just a totally different level.” Simply hearing, “Hey, we trust you,” meant the world to me. We cherish you. We want you to be happy and we believe you’ll do what’s right.

Saget and Rizzo were wed for four years before he passed away in 2022.

About Rizzo’s new partner, Breckin Meyer, he is most recognized for the cult favorite Clueless from the 1990s.In addition, Meyer has produced and written; she was the brains behind Men At Work.

Deborah Kaplan, a filmmaker, and Meyer were previously wed from 2001 to 2014. The couple has two daughters together.

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