Time to Pull the Plug on Forced Electric Vehicles
by Pete Hoekstra • November 9, 2023 at 5:00 am
[O]ur federal and state governments are investing huge sums of money into projects that will benefit a foreign government [Chinese Communist China] one that might not have America's best interests in mind.
The harshest reality check may come in the form of expensive inventory build-up of unsold EVs that Ford thought customers would buy but is now finding out that customers do not want.
Another red flag for EVs is the lack of profitability for Ford and GM's models. Ford lost $32,000 on every EV it sold in 2023 and expects its EV business to lose $4.5 billion on the year. GM saw its quarterly profits cut by $1.5 billion due to EV losses.
It is time for our policy makers to stop and seriously evaluate if we as a nation are prepared to make these gigantic investments in unproven technologies that risk our nation's energy and transportation leadership.
Now is not the time for communist-style "central planning," or to let ideologues drive America's policy and its future over the proverbial cliff.
The recent headlines regarding the forced transition from gasoline- and diesel-powered vehicles to electrical vehicles (EVs) are screaming "Slow down!" even as federal and state governments are barreling along trying to regulate and mandate them.
The market and the current technology have shown plenty of warning signs they are not ready at this point, but the government seems bent on recklessly jeopardizing our national and economic security to push its environmental agenda. While EVs likely have a role in our future transportation, it is time to hit the pause button and develop a better strategy moving forward into a strategy that includes a competitive marketplace and technical considerations, and not just massive governmental intervention in our economy.
