Ford to spend $1.3B to transform Canada factory into EV manufacturing hub
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Re: Ford to spend $1.3B to transform Canada factory into EV manufacturing hub
#2>Ford, along with its rivals, are scrambling to upgrade existing facilities and build new ones as they shift from internal combustion engine vehicles to EVs. Ford has said it wants the production capacity to sell 2 million EVs a year globally by the end of 2026.
Tesla is expected to exceed Ford's 2026 milestone this year. It's safe to assume Ford is 3 years behind Tesla, and won't be able to catch them before the 2035 EV mandates.
Re: Ford to spend $1.3B to transform Canada factory into EV manufacturing hub
#3Combined with the investments in Tennessee, Kentucky, and Michigan, this is "bet the company" levels of investment. I pray for Ford's sake they picked the right horse (vis-à-vis, e.g., hydrogen or ammonia).
Re: Ford to spend $1.3B to transform Canada factory into EV manufacturing hub
#4>Ford, along with its rivals, are scrambling to upgrade existing facilities and build new ones as they shift from internal combustion engine vehicles to EVs. Ford has said it wants the production capacity to sell 2 million EVs a year globally by the end of 2026. Tesla is expected to exceed Ford's 2026 milestone this year . It's safe to assume Ford is 3 years behind Tesla, and won't be able to catch them before the 20…
> It's safe to assume Ford is 3 years behind Tesla
How is this safe to assume?
Re: Ford to spend $1.3B to transform Canada factory into EV manufacturing hub
#5Combined with the investments in Tennessee, Kentucky, and Michigan, this is "bet the company" levels of investment. I pray for Ford's sake they picked the right horse (vis-à-vis, e.g., hydrogen or ammonia).
Doesn't matter, they are too big to fail™.
Re: Ford to spend $1.3B to transform Canada factory into EV manufacturing hub
#6Combined with the investments in Tennessee, Kentucky, and Michigan, this is "bet the company" levels of investment. I pray for Ford's sake they picked the right horse (vis-à-vis, e.g., hydrogen or ammonia).
Doesn't matter, they are too big to fail™.
Ford is the only major automaker that didn't need (or get) a bailout.
Re: Ford to spend $1.3B to transform Canada factory into EV manufacturing hub
#7Re: Ford to spend $1.3B to transform Canada factory into EV manufacturing hub
#8Combined with the investments in Tennessee, Kentucky, and Michigan, this is "bet the company" levels of investment. I pray for Ford's sake they picked the right horse (vis-à-vis, e.g., hydrogen or ammonia).
VW is putting $200B into the transition, so they're not alone in betting the company. I think it's the right move, but since there are companies who aren't putting the same level of resources in as VW & Ford, we will see who the winners are in a few years.
Re: Ford to spend $1.3B to transform Canada factory into EV manufacturing hub
#9Combined with the investments in Tennessee, Kentucky, and Michigan, this is "bet the company" levels of investment. I pray for Ford's sake they picked the right horse (vis-à-vis, e.g., hydrogen or ammonia).
VW is investing ~$200B in EV manufacturing. Yes, VW is about twice as big, but still, that puts the numbers into perspective.
Re: Ford to spend $1.3B to transform Canada factory into EV manufacturing hub
#10Dumb. Ford's sales are mostly their F-150. Very few people want a lightning and very few can afford them. Imagine dumping $60-$100k+ on something that's worse than it's cheaper ICE version in every way.
Also, the used EV market is going to be trash. These are throw away vehicles. The only way they keep selling is government force mandates and rebates.