Ford has written off $1.9bn as it cancelled plans for an all-electric large SUV in the US, opting to produce a hybrid version instead in the latest sign of western carmakers struggling to make profitable electric cars.
The US carmaker said on Wednesday that it would not be able to reach a profit on the electric SUV within a year, its measure of whether a new car is viable, citing the stiff competition from Chinese manufacturers. It will initially write off the cost of $400m (£300m) in tooling for the vehicle, plus another $1.5bn (£1.15bn) in extra costs in the future.
Ford also said it would delay the successor to its F-150 Lightning electric pickup truck until 2027, after initially targeting a launch next year.
Did someone say stock buybacks?
Currently large electric vehicles make 0 sense
Make all passenger cars electric and work trucks ICE till the battery tech becomes suitable. Require licence to buy/drive big fuck you trucks and fine anyone who isn’t using one for work.
Car and Driver picked the Ioniq 5 N as car of the year. It’s an SUV EV with 624hp. The non-N model is a hit seller.
3,578lbs curb weight of a Tuscon
4,414 ioniq 5.
Max towing capacity. Tuscon 2000lbs. Ioniq 5 1500lbs.
Not to mention the wear that 1000lbs extra causes.
Just because something is popular doesn’t mean it makes sense.
Tic tic challenges, extremely popular, do they make sense to do?
The specsheet comparison is definitely the thing that tells you all you need to know about something…
Guess I won’t be buying a Ford. If they won’t produce the cars I want I have to go elsewhere. Keeping my 1999 on the road is getting expensive, but I see no other option. (though my ebike covers about 90% of my needs, that last 10% isn’t much so cheap is important)
Yeah so if you drive a 99 I’m pretty sure it’s not an issue with the cars manufacturers are producing right now.
‘written off’
So they get a tax break for it?
I mean, is a expense and no revenue, you only pay taxes when you make money
Ahh. I thought there might be some sort of incentive like how Warner bros axed a fully finished movie because they could use the write off
Even that was only worth doing because of special tax rules for when companies are sold.
citing the stiff competition from Chinese manufacturers.
Sounds like a sore loser answer haha
Fuck Ford.
