US auto sector 'whipsawed' by politicians, Ford chairman says

==========

The U.S. auto industry needs regulatory certainty from politicians in Washington and the back and forth as the White House changes hands doesn't help, but the adoption rate of electric vehicles will continue to grow, Ford Motor's executive chairman Bill Ford said on Wednesday. The growth rate on EV sales has slowed, but globally they are being adopted quickly and Ford will follow even as it hedges it bets with its gasoline-powered and hybrid electric vehicles. Michigan is a key battleground state in the election this fall and both Biden and Trump have been speaking to voters, including many industry workers, about the challenges the U.S. auto sector faces. Bill Ford said when he talks with politicians in Washington, he gets very different viewpoints from the two parties. Ford Motor on Tuesday resumed shipments of its F-150 Lightning electric pickup after an undisclosed quality issue led to a nine-week halt starting in February. Ford CEO Jim Farley has said the U.S. automaker was committed to scaling up its EV business profitably. It lost nearly $4.7 billion on its EV business in 2023 and projected it will lose $5 billion to $5.5 billion this year.

#UsAutoIndustry #ElectricVehicles #FordMotor #BillFord #JoeBiden #DonaldTrump

https://finance.yahoo.com/news/us-auto-sector-whipsawed-politicians-140643150.html