EV's, Gas/Oil, and The Future- another swerve split from- JT Hints Boosting Canada’s Military Spending

[daftandbarmy]

Ouch...

Ford tops Q3 earnings expectations, but EV losses take a toll on profits​

After losing another $1.1 billion on its Model e business, Ford’s EV losses reached $2.5 billion through the first half of 2024. Ford expects EV losses to reach between $5 billion and $5.5 billion this year.

Ford tops Q3 earnings expectations, but EV losses take a toll on profits

Ford reported Q3 earnings after the market closed on Monday, beating Wall St revenue and EPS expectations. However, the company...

electrek.co

 

[Brad Sallows]

Ouch...

Ford tops Q3 earnings expectations, but EV losses take a toll on profits​

After losing another $1.1 billion on its Model e business, Ford’s EV losses reached $2.5 billion through the first half of 2024. Ford expects EV losses to reach between $5 billion and $5.5 billion this year.

Most of the manufacturers are suffering because politicians pushed too hard, too fast. The US "uniparty" will probably try and take Tesla down [a notch] even if Tesla isn't included in that, because of Musk's political advocacy. Meanwhile, they'll demand more EVs.

 

[Good2Golf]

https://www.reuters.com/technology/northvolt-crisis-may-be-make-or-break-europes-ev-battery-ambitions-2024-11-22/

Northvolt crisis may be make or break for Europe's EV battery ambitions​

By Marie Mannes, Alessandro Parodi and Stine Jacobsen
November 22, 20241:20 PM EST

STOCKHOLM/GDANSK, Nov 22 (Reuters) - Northvolt's financial collapse deals a blow to Europe's plan to set up its own battery industry to power electric cars, stirring a debate about whether it needs to do more to attract investment as startups struggle to catch up with Chinese rivals.
Europe's biggest hope for an electric vehicle battery champion filed for U.S. Chapter 11 bankruptcy protection on Thursday after talks with investors and creditors including Volkswagen and Goldman Sachs for funding failed.

The Swedish company, whose motto is "make oil history", has received more than $10 billion in equity, debt and public financing since its 2016 start-up. Volkswagen and Goldman Sachs each own about one fifth of its shares.
Northvolt said on Friday it needed $1.0-$1.2 billion in new funds under the restructuring process, which it hopes will end by the end of March.
In recent months, it has shrunk the business and cut jobs in a bid to shore up its finances. But it has struggled to produce sufficient volumes of high-quality batteries, and lost a 2 billion euro ($2.1 billion) contract from BMW (BMWG.DE), opens new tab in J