Despite the insane push for electric vehicles, finally a company get sanity. Going electric will bankrupt your company. But their move means good news for Trump.
If you’re making short trips, having an EV makes sense. But to build a transportation strategy around the vehicles that involves freedom of movement anywhere is foolhardy.
It’s reported that Hertz is reversing course on an initiative to make the move towards more electric vehicles. Even more surprising perhaps, the company announced that it will sell a large amount of its electric fleet and transition back to gas-powered automobiles.
I consider this move one of the biggest signs of Trump’s triumphant return to power. Because what company would make such an anti-climate move if they thought Biden or some other braindead moronic Democrat would win?
The company says it will sell off 20,000 EVs. That number constitutes about one-third of its entire available electric vehicle selection. The models Hertz will liquidate include Chevrolet, Polestar and Tesla models.
Why the move?
I mentioned some of the more obvious reasons to move away from EVs, like lack of range, time to charge, and so on. But in announcing the shift back to mostly gas-powered vehicles, Hertz CEO Stephen Scherr pointed to other issues.
For example, the costs for repairs caused by damages is much higher for EVs than their counterparts. Also, EVs depreciate faster than gas-powered vehicles.
The surprise move comes just two years after plans were revealed by Hertz to convert a quarter of its rental selection to EVs by the end of 2024. This major move will send a tsunami through the EV industry.
Hertz isn’t the only one.
Many automobile manufacturers have awakened to the EV scam, and now are acting accordingly. Late last year Ford announced that it was rethinking EV production:
In its latest setback, Ford is cutting back on another significant EV investment. The company is scaling back plans at its $3.5-billion EV battery plant in Michigan as it adjusts to market demand.
Ford said it was “re-timing and resizing some investments” in a statement Tuesday. Although it remains bullish on its long-term strategy, Ford is reducing its investment and cutting jobs at its Michigan EV battery plant.
The company is cutting production capacity at the facility by over 40%. Ford now expects the facility to produce around 20 GWh, a big difference from the 35 GWh initially expected.
Ford is also reducing its investment in the facility by nearly $1.5 billion while cutting the expected number of jobs to 1,700.
The 400 pound EV gorilla Tesla shows concerns as well:
SAN FRANCISCO, Oct 19 (Reuters) – Tesla (TSLA.O) on Wednesday joined General Motors (GM.N) and Ford (F.N) in being cautious about expanding electric vehicle (EV) production capacity, citing economic uncertainties and underscoring fears of a slowdown in demand.
Tesla CEO Elon Musk said he was worried that higher borrowing costs would prevent potential customers from affording its vehicles despite substantial price cuts, and that he would wait for clarity on the economy before ramping up its planned factory in Mexico.
Marketplace summarized the EV marketplace, writing
And now, many are dialing them back. GM is scrapping its target of producing about half a million new EVs by the middle of next year, Ford extended its timeline to hit a goal of 600,000 EVs a year, and even Tesla sees demand softening.
Electric cars are a harder sell, in part, because of prices, said Abuelsamid. “It’s actually become somewhat more of an issue in the past year or so, even though prices of a lot of EVs have come down.“
This is not good news for the industry. But it’s great news for America, the world, and Donald Trump.
