Ford retreats from EV's.....takes $19.5 billion loss

[Hawkeye10]

Ford retreats from EVs, takes $19.5 billion charge as Trump policies grip industry

It's the most dramatic example yet of the auto industry's retreat from battery-powered models in response to the Trump administration's policies and weakening EV demand.

www.reuters.com

Also the huge German auto plant Volkswagen just closed was intended to become fully an EV plant.

 

[Hawkeye10]

Mario Nawfal



@MarioNawfal

VW SHUTS FIRST GERMAN PLANT EVER - 88 YEARS, NOW IT'S OVERVolkswagen closes Dresden production Tuesday. First German factory shutdown in company history. The poster child for Germany's EV pivot just became a museum.The numbers tell it: Dresden made under 200K cars since 2002 - half what Wolfsburg cranks out annually. Started building luxury Phaetons, pivoted to electric ID.3s, now it's a university AI campus.Real story: €180bn investment budget slashed to €160bn. Gas engines living longer than planned. China sales tanking. EU demand dead. U.S. tariffs biting. 35,000 German jobs getting axed.VW's CFO says 2025 cash flow might be "slightly positive" - meaning "we're bleeding but pretending we're fine."What's next: More German plants close within 18 months. Union deals buy time but don't fix math - you can't sell EVs nobody wants at prices nobody pays. BMW and Mercedes watching Dresden like a preview.Germany built its century on cars. That century just ended with a shutdown notice and a press release about "AI research opportunities."