Legacy Auto Having To Supplement EV From ICE Profits

Yeah, EVs on Budget suxx.

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As long as Tesla doesn't have competitors, it will continue to make money from its electric vehicles. The strange thing is that Ford is not in tune with manufacturing and bringing electric vehicles to the market, given that worldwide gasoline prices are very high. It must be because the purchasing power of people is falling a lot, which makes it difficult to buy vehicles of all types. @taskmaster4450le I take this opportunity to thank you for your positive evaluations of my publications. Today I tell you, in one of them, my experience as an actor in Cumaná, the capital of the state of Sucre-Venezuela, through #hivesucre. successes

I'm not an automobile freak but one thing I do know is that Tesla cars are indeed one of the most unique machines on the planet!

Summary:
In this video, Task discusses Legacy Auto companies and their challenges in the EV market. He highlights that while Tesla profits from EVs, legacy automakers like Ford lose money on every EV they produce. The funding for their EV divisions is sustained through profits from their ICE (Internal Combustion Engine) business, which is currently declining. Task predicts a significant increase in EV sales in the future, putting additional pressure on legacy automakers who are struggling to compete in the evolving market.

Detailed Article:
Task delves into the financial challenges faced by Legacy Auto companies, particularly focusing on Ford's losses on EV production. He emphasizes that most legacy automakers do not generate profits from EVs and points out that the funding for their EV divisions primarily comes from the profits of their ICE business. Task mentions that General Motors and Ford, for example, rely heavily on selling parts and financing to make profits rather than from vehicle production itself.

The speaker acknowledges the declining trend in ICE sales since 2017 across major manufacturers like General Motors and Ford. He attributes part of this decline to the increasing market share of companies like BYD and other Chinese automakers, particularly in China and potentially in the EU and Europe. Task poses a critical question about how Legacy Auto companies will sustain themselves as their ICE business erodes, especially as EV sales are expected to rise significantly in the future.

Task challenges the commonly held prediction of a sudden and drastic shift to EVs, questioning the feasibility of other automakers producing the volume of EVs required to meet such high market share percentages. He mentions Tesla's anticipated production volume, contrasting it with the production capabilities of companies like General Motors, Ford, and others. Task also raises concerns about the potential cannibalization of legacy automakers' ICE businesses as EVs become more popular.

In conclusion, the video serves as a warning to Legacy Auto companies about the growing competition and changing landscape in the automotive industry. Task highlights the need for these companies to strategize effectively to survive and thrive in a market increasingly dominated by EVs.

Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.