EVs Are Running Out Of Juice

May 7, 2024

Electric vehicles are failing. Despite the subsidies from the government, despite the ad campaigns of Hollywood’s most recognizable celebrities, and despite the eco-left’s army of lobbyists, real Americans have made it clear: we don’t want EVs, we want affordability and more importantly, we want reliability. The data confirms this. 

Ford has slowed the rollout of their electric vehicles after projecting losses of $5.5 billion on EV models this year alone. Ford is losing upwards of $72,000 on every single electric vehicle it sells. Perhaps Ford should stick with what they’re good at: building reliable, gas-powered cars. Similarly, General Motors has laid off nearly 1000 workers because of declining sales of electric vehicles. These two industry giants followed the trend and attempted to use the billions given to them in subsidies to turn something truly unprofitable, electric vehicles, into a sustainable business model. Stellantis has laid off 400 workers. Ultimately, we, the taxpayers, are on the hook for this miscalculation as state governments and the federal government continue to subsidize this failing industry. 

Furthermore, companies that exclusively produce electric vehicles, like Tesla and Rivian, have reported losses and lay-offs at levels unheard of. For the first time since its inception, Tesla is projecting to lose money in 2024. Additionally, as PTF previously covered, Tesla has had two rounds of layoffs, including in its Supercharger Team— its defining characteristic. Rivian, a favorite of the Biden Administration whose CEO meets privately with John Podesta, has also gone through two rounds of layoffs.

Americans have made it clear that we do not want to own an EV, or much less have to pay for the subsidies given to these companies through our taxes. Now, many families are losing jobs after being enticed with false promises and job offers from these companies.