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Analysis-Ford's EV retreat highlights industry dilemma: Build for the US or the world? [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
how he was about to wipe out thousands of work hours on electric vehicles that he and his team had hoped would revolutionize the American auto industry. Shortly after, his company announced it would kill several of those battery-powered models and take a $19.5 billion writedown on EV-related assets. It marked the industry's ?biggest electric-vehicle retreat since U.S. President Donald Trump's sweeping auto-policy changes iced already cooling EV demand. Farley had spent years telling staff and investors that catching up to Tesla and China's leading EV makers amounted to an existential struggle. ?Now – after losing about $13 billion on EVs since 2023 – Farley says the path to survival lies in ditching these unprofitable models. “We can't allocate money for things that will not make money,” he told Reuters on Monday. “As much as I love those products, the customers in the U.S. were not going to pay for ?them. And that was the end of that.” Farley's angst reflects the broader conu
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