As the push for electric vehicles persists despite public reluctance, the once-promising solution for environmental concerns is revealing significant drawbacks. Issues like inadequate charging infrastructure, limited range, battery problems, high repair costs, and supply chain disruptions have plagued the industry.
Despite these challenges, proponents like Joe Biden continue to advocate for electric vehicles. However, the lack of consumer interest has led to substantial financial losses for manufacturers. Ford Motor Company, for instance, reported a staggering $4.7 billion loss in 2023 from its electric vehicle product line, exceeding earlier projections.
The company attributed the losses primarily to intense competition driving down prices. With Ford selling around 72,608 electric vehicles in the year, the losses translate to roughly $65,000 per vehicle sold, an unsustainable business model. Moreover, Ford anticipates further losses, projecting up to $5.5 billion for 2024, particularly concerning in an election year.
Despite Chief Financial Officer John Lawler’s optimistic remarks about future profitability and customer adoption, the reality suggests otherwise. Ford’s flagship electric vehicle, the F-150 Lightning pickup, saw diminished demand, leading to production cuts. This setback is notable, especially as Biden’s administration aimed for 50% of new vehicle sales to be electric by 2030.
Watch Biden test drive the Ford Lightning pickup here:
General Motors has also dialed back production and tempered expectations, posting a $1.7 billion loss on electric vehicles in just the fourth quarter of 2023. Ford went on to state: “We said yesterday that we will launch our second-generation EVs when they can be profitable and deliver the kind of returns we want, and we will build a stand-alone profitable EV business. Meantime, we’re improving the contribution margin of our first-generation EVs.”
Jennifer Lopez Wears a Met Gown That Took 800+ Hours to Make — But People Are Feeling Sad for Her
Jennifer Lopez showcased her unparalleled style at the prestigious 2024 Met Gala. Striding onto the iconic Met steps, she assumed her role as co-chair alongside Zendaya, Chris Hemsworth, and Bad Bunny, exuding her signature glamour and elegance. And while she looked undeniable gorgeous, people were noticing the same thing.
Adhering to the “Garden of Time” dress code, the 54-year-old Lopez stunned in a sheer Schiaparelli Haute Couture gown, adorned with sparkling embellishments resembling butterfly wings.
She complemented her ethereal ensemble with mesmerizing jewels from Tiffany & Co., while elegantly styling her hair in a slightly tousled topknot.
Her gown, a masterpiece of craftsmanship, demanded over 800 hours of meticulous hand embroidery. Crafted with 2,500,000 silver foil bugles and beads, its beauty was not confined to the front; from every angle, including the back, it radiated sheer magnificence.
Online, fans showered praise upon the Maid in Manhattan star for her glamorous appearance and fabulous silhouette. One fan exclaimed, “Gorgeous and stunning as always!” while another noted, “Incredible. She’s an inspiration.”
However, numerous observers couldn’t overlook the fact that the star appeared unhappy, with many noting the absence of her husband, Ben Affleck, from the event. One individual commented, “Looks lovely but unhappy. Trouble in paradise?” while another added, “J. Lo is looking really miserable of late.”
A considerable number of fans were worried and asked, “Where’s Ben?” Additionally, someone pointed out, “Even Matt Damon was there.”
We can definitely agree that Jennifer exuded radiance at this year’s Met Gala. If you’re keen on exploring more stunning looks from the grand event, be sure to check our ranking of the most striking appearances of the night.
Preview photo credit Sipa USA / Alamy Stock Photo, DPRF/STAR MAX/IPx/Associated Press/East News
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