Ford to Embrace Hybrids After Losing Billions on Electric Vehicles

Brittany M. Hughes | August 2, 2023
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"Go woke, go broke" might have a sister phrase to contend with: "Go green, stay lean."

At least, that's how it looks over at the Ford Motor Company, which has reportedly lost billions pushing electric cars no one wants. According to an announcement made by the company late last week, Ford projects it will lose $4.5 billion this year alone on electric models, on top of the $2 billion it lost in 2022. 

To try and counteract this trend of, well, losing tons of money, Ford says it plans to move forward with its EV push - just much slower than anticipated. In the meantime, the company will embrace hybrids moving forward as a way to keep at least some of its "green" electric option while also giving people the choice to gas up their cars and actually get where they're going, assuming they want to drive more than a couple hundred miles or need to get to work when California's having rolling blackouts.

Related: August 1: Fed Ban On Sale Of Incandescent Light Bulbs Begins

It also turns out Ford customers aren't fond of purely electric pick-up trucks, which run on expensive batteries and often pack far less power than traditional gas-powered models. Instead, people seem to be gravitating toward hybrid trucks that have some electric capabilities but don't rely only on batteries to run.

“We’re seeing a lot of customers like that combination of using the batteries for something beyond just moving the vehicle,” CEO Jim Farley said. “And so we’re just listening to the market.”

Listening to the market? You mean, actually taking into account what customers want and are willing to buy without shoving a wholesale agenda down their throats?

If only the federal government took such advice.

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