By David Stoyka

Ford announced it is currently losing $100,000 on each electric vehicle (EV) it sells. This raises important questions about the current ESG strategy being used by Ford and other automakers.

Is there a single tactic that automakers can adopt that balance’s environmental goals with financial viability?  It does not appear so.

While overall profits are up in the automotive industry, the headwinds companies are facing due to the complex challenges of EV implementation are prove extremely costly. So how do they fix the issue?

It is crucial for Ford and other automakers to assess the long-term viability of their EV strategy and consider alternative ways to allocate resources effectively towards addressing climate change. Reducing carbon emissions doesn’t solely rely on electric vehicles (EVs); there are several alternative technologies they should consider:

1. Hybrid Vehicles
2. Plug-in Hybrid Vehicles (PHEVs)
3. Biofuel Vehicles
4. Hydrogen Fuel Cell Vehicles
5. Compressed Natural Gas (CNG)
6. Energy Recovery Systems
7. Improving Fuel Efficiency of current internal combustion engines

By combining these alternatives as the adoption of EVs ramps up can make significant progress in reducing carbon emissions from the transportation sector without a significant hit to automakers bottom line.