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.”
The Real Reason Japan’s Empress Wore a Mask With Queen Camilla Revealed
Empress Masako of Japan wore a surprising accessory during her visit to the U.K. with Emperor Naruhito. When they were welcomed, she put on a face mask that matched her white outfit for the ride to Buckingham Palace. But there was more to it than just fashion.
Masako, 60, was all smiles without her face mask when the day officially began.
On June 25, during a horse-drawn carriage ride after the ceremonial welcome, Empress Masako wore the mask. Once they went inside Buckingham Palace for lunch and to look at some items from the Royal Collection, she took it off.
The reason for the mask? Empress Masako is allergic to horses, according to royal reporter Rebecca English from the Daily Mail.
Prince Louis, age 6, also had a funny moment with horses. During a carriage ride at Trooping the Colour in June 2023, he briefly held his nose, probably because of the horses’ smell.
Prince William greeted her and Emperor Naruhito at their hotel in London.
The Prince of Wales, 41, took on this key role alone, highlighting his position as heir to the throne, a duty his wife, Kate Middleton, has joined him for in the past.
Catherine, Princess of Wales, 42, continues to stay out of the spotlight while receiving cancer treatment. Although she appeared in public for the first time in nearly six months at Trooping the Colour on June 15, it didn’t mean she was back to work.
“She has been doing what’s right for her and recovering privately at home. She is dealing with it the best she can,” a source close to the royal family tells.
Prince William then accompanied the Emperor and Empress of Japan to Horse Guards Parade, where they greeted King Charles, 75, and Queen Camilla, 76, at the ceremonial welcome.
Presentations were made, accompanied by a Royal Salute and the playing of the Japanese national anthem.
King Charles and Emperor Naruhito, aged 64, inspected a Guard of Honour formed by the 1st Battalion Welsh Guards, where Prince William holds the honorary colonel position. Following this, they embarked on a carriage ride along The Mall in London, adorned with both Japanese and Union Jack flags, making their way to Buckingham Palace.
State visits are pivotal diplomatic duties for the British royal family, crucial for strengthening relationships with nations worldwide. The upcoming visit from Japan was announced in late April, marking King Charles’ return to public duties amidst his ongoing cancer treatment.
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