Staff Reports
In a recent video, Ford CEO Jim Farley documented his road trip across the American West in his electric car (EV). However, he received a “reality check” when he encountered difficulties charging the vehicle. Farley admitted that it took a whopping 40 minutes to charge the car up to just 40 percent, a stark contrast to the mere minutes it takes to refuel a gas-powered vehicle.
No surprise charging can be a challenge, but still learning a lot seeing firsthand the issues our customers face. This is why we’re working w/ @Tesla to provide @Ford drivers access to +12,000 superchargers & our EV certified dealers are installing fast chargers at their… pic.twitter.com/fES15o9orT
— Jim Farley (@jimfarley98) August 13, 2023
This experience highlighted the importance of fast charging for EV owners, according to Farley. He stopped at one of the most popular charging sites on the I-5, but still faced challenges in getting a decent charge. Unfortunately, this is not an isolated incident. A study conducted last year in the San Francisco Bay area found that 23% of public chargers were non-functioning.
To address the charging infrastructure issues, the Biden administration has announced investments of up to $55 billion in EV charging stations. While this may seem like a positive step, it is important to note that it’s the taxpayers who will foot the bill for these investments. Additionally, the Biden-Harris Administration’s focus on EV charging stations raises concerns about government overreach and the potential for unnecessary regulation in the private sector.
Furthermore, Ford’s second-quarter financial results for 2023 revealed a projected $4.5 billion loss for its electric vehicles. Despite these losses, the company still managed to post a $1.9 billion net income and earn billions of dollars in its other divisions. This shows that the market demand for EVs may not be as strong as some would like to believe.
While Farley remains optimistic about EV adoption, it is clear that there are still significant hurdles to overcome. As a conservative, it is important to prioritize free market solutions and innovation rather than relying on government intervention to address the challenges faced by the EV industry.
