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Speaker 1: I'm Matt Miller and I'm Hannah Elliott, and this is

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Speaker 1: Hot Pursuit.

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Speaker 2: All right, you're just back for Monterey, and I have

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Speaker 2: been watching your Instagram feed with a certain degree of

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Speaker 2: jealousy and sorry interest. No, I mean I got to

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Speaker 2: ask about some of the stuff you were doing there.

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Speaker 2: It looked amazing. And we're also going to talk with

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Speaker 2: Keith Naughton because Ford came out with another bombshell this

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Speaker 2: this week. But yeah, the shares actually were up so counterintuitive. Yeah, well,

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Speaker 2: I mean I think the thing is they've reduced their

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Speaker 2: spending on evs from forty percent of capex to thirty percent.

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Speaker 2: So even though they're going to take a big charge

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Speaker 2: four hundred million dollars and it's going to cost him

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Speaker 2: another one and a half billion to sort of retool everything,

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Speaker 2: investors were pleased. And that's, you know, much better than

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Speaker 2: what happened over earnings or the last time they said

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Speaker 2: they were going to take a big loss. Remember they

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Speaker 2: they said last year they're gonna lose four and a

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Speaker 2: half billion on EV's. This you're going to lose five

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Speaker 2: and a half bill on EV's. So it's just painful,

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Speaker 2: it's painful Luckily they're making money still with the gas trucks,

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Speaker 2: and hopefully they make a lot of money with mustangs too,

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Speaker 2: because you don't want those to go away.

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Speaker 1: Well, I mean, I don't think they are for me.

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Speaker 1: From a product perspective, it's always very troubling anytime a

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Speaker 1: company delays and then just decides to not make a

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Speaker 1: product they've been gunning for. True, but better, so many

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Speaker 1: resources to it.

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Speaker 2: Better not to make it.

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Speaker 1: Oh yeah, the first the first loss is the best loss.

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Speaker 2: Yeah, exactly, as they say. You definitely want to be

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Speaker 2: able to cut your losses. You need to know when

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Speaker 2: to fold them completely, know when to walk away, and

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Speaker 2: know when to run.

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Speaker 1: Is that a cash song? No, it's oh yeah, Oh

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Speaker 1: my mom would have known that.

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Speaker 3: All right.

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Speaker 2: So first I want to ask, and then I want

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Speaker 2: to get to the auctions as well. So I know

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Speaker 2: what happened. I haven't looked into it, but I did

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Speaker 2: see you were driving the like a pre war my box.

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Speaker 2: Oh yes, your outfit was awesome, thanks, and it looked

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Speaker 2: like super fun. Was it different than driving like a

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Speaker 2: modern car? Did you have to stir around with a

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Speaker 2: bunch of different valves and stuff?

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Speaker 1: Oh my gosh, so This was a nineteen thirty to

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Speaker 1: my Box Zeppelin, and it's a semi automatic transmission. I

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Speaker 1: apologize because the person who taught me how to drive it.

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Speaker 1: His name was Manfred, and he was a wonderful German Man,

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Speaker 1: but his English was better than my German. But it

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Speaker 1: still was a little confusing, so I'm not sure of

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Speaker 1: that all. I did figure it out in the end

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Speaker 1: and drove it. But the transmission is considered semi automatic,

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Speaker 1: which is pretty incredible to consider that my Box was

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Speaker 1: making automatic transmissions in the thirties. But basically, you use

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Speaker 1: a clutch to go into first gear and to go

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Speaker 1: into reverse. Other than that, you change gears by moving

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Speaker 1: these tiny levers on the steering wheel, and there's some

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Speaker 1: hydraulic vacuum system that shifts gears for you once you're

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Speaker 1: in gears two three four. Interesting basically it I mean

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Speaker 1: it's you're just literally like moving these levers along a

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Speaker 1: little dial to shift, and you just take your foot

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Speaker 1: off the accelerator and the thing shifts for you. It's

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Speaker 1: a vacuum you kind of.

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Speaker 2: Like a motorcycle. So a lot of motorcycles now are

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Speaker 2: fitted with autoblip clutches. You can go up and down

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Speaker 2: without using a clutch, but from neutral to first or

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Speaker 2: first to neutral, you still need to usually use it.

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Speaker 1: Yes, yeah, I have to say drive. I have driven

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Speaker 1: a Model T before, so this wasn't really I have

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Speaker 1: driven old, old cars before, but there is something so

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Speaker 1: special about getting into these huge, heavy pre war vehicles

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Speaker 1: that just you know, those guys didn't care about anything.

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Speaker 1: They just live life, and you know, there's such a

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Speaker 1: sense of arrival. I was in the DS eight Zeppelin

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Speaker 1: that my Bock made in like nineteen thirty to nineteen

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Speaker 1: thirty two or so. It's a V twelve. It weighs

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Speaker 1: like six thousand pounds. I mean, it is just nice.

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Speaker 1: Trying to turn the thing was more weightlifting than I've

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Speaker 1: done in the past three years on my arms.

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Speaker 2: It was sounds amazing.

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Speaker 1: Yeah, it was going.

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Speaker 2: It sounds like a bear, But I just love the

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Speaker 2: idea of those huge and it was an open top, yeah,

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Speaker 2: you know, rot top, I guess is maybe not the

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Speaker 2: right word for it, but it was. I love those

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Speaker 2: pre war cars and I feel like me too. You're

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Speaker 2: looking at hundreds of thousands of dollars to get into

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Speaker 2: that because there's so few left and it's a millions,

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Speaker 2: very rich.

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Speaker 1: People, millions millions of dollars. But here's the funny thing,

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Speaker 1: and maybe this is our segue into auctions. Pre war

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Speaker 1: vehicles are really not doing well at auction. I mean

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Speaker 1: they used to be the top top dollar and people

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Speaker 1: don't care as much.

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Speaker 2: About so I didn't see any auction results. But it

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Speaker 2: was a pre war Bugatti that won the Pebble Beach

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Speaker 2: Concord Uns right.

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Speaker 1: Yeah, it won the Car Show beauty contest for sure.

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Speaker 1: It's a beautiful, unrestored.

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Speaker 2: Gorgeous Yes, was it top fifty nine?

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Speaker 1: I think yeah, that sounds about right. And let's I mean,

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Speaker 1: Bugatti is such a long, long established old brand with

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Speaker 1: some of the world's most beautiful cars, so that's really wonderful.

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Speaker 1: But of course the top sellers, I think six of

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Speaker 1: the top ten sellers at auction were Ferraris, and so

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Speaker 1: even though blue chip cars did take a real hit

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Speaker 1: this year, Ferraris are still really so doc.

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Speaker 2: When we were talking last week, you mentioned that you

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Speaker 2: have a guy that gave you all the data, and

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Speaker 2: you know, ten years ago, nineteen sixty four was the

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Speaker 2: average age that sold it auction. In this last year,

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Speaker 2: it was nineteen seventy one. Yeah, so were there ferraris

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Speaker 2: newer ferraris or were they also the old like super expensive?

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Speaker 1: They're the old super expensive things. But then we did

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Speaker 1: see some things jump, like a nineteen ninety five Ferrari

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Speaker 1: F fifty set a world record for f fifty's and

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Speaker 1: really kind of and that car has been painted and repainted.

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Speaker 1: It certainly wasn't a perfect example, but I think that

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Speaker 1: sale shows that vehicles made in the nineties and two

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Speaker 1: thousands are really coming into their own. They're really on

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Speaker 1: the rise. You know, the take where the sell through

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Speaker 1: rate of cars valued at one million dollars or more

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Speaker 1: this year was like fifty percent, which means one out

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Speaker 1: of two of those cars didn't even sell, which is

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Speaker 1: really low. It's really bad. But when you see you know,

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Speaker 1: the sal sales of Lamborghini, Diablos, uh, Guyardos, marcel Legos

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Speaker 1: all doing very well. And let's not forget the whole

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Speaker 1: desire for stick shifts. Those are up, up, up, up up.

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Speaker 1: You know, they're selling for like half a million and

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Speaker 1: over a million dollars. There's really a shift happening. It's

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Speaker 1: just it's kind of cool. I mean, I like those

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Speaker 1: cars too.

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Speaker 2: By the way, you wanted to see the Diablo that

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Speaker 2: this new company is kind of like eccentrica retromodic. How

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Speaker 2: was it? Did you see it? It's cool?

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Speaker 1: Yeah, I saw it. It was in this really cool

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Speaker 1: plum purple color, like a very deep purple, that kind

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Speaker 1: of black under shade. Super cool. The interior was all white.

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Speaker 1: You know, this is Mauricio Reggiani's project. He's consulting on it,

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Speaker 1: and of course that's the former head of R and

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Speaker 1: D for Lamborghini, so he's a genius. So anything he

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Speaker 1: is working on, I definitely want to see those are

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Speaker 1: I think the price tag on those is about one

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Speaker 1: point three million euros. They won't tell me how many

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Speaker 1: they have sold. I know they were taking orders this week.

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Speaker 1: That was a really big goal for them to try

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Speaker 1: to get some cells going, So don't I don't actually know.

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Speaker 1: It's still pretty early, but I did see it. It's cool.

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Speaker 1: I mean, they've they've improved that. They tell me. I

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Speaker 1: haven't driven it, but you know they've improved obviously, the gearbox,

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Speaker 1: the steering, the brakes, all of the things that made

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Speaker 1: that car feel like a tractor to drive in the

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Speaker 1: original form. They claim they've improved, so we'll see. I'd

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Speaker 1: like to get in it and drive it. I wasn't

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Speaker 1: given that opportunity, unfortunately for me.

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Speaker 2: The tractor like quality of the evented door transmission was

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Speaker 2: really one of its one of the beautiful things about it.

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Speaker 2: I loved it. Yeah, all right, let's bring in Keith Norton.

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Speaker 2: He's our Ford reporter in Detroit, and I want to

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Speaker 2: get the Forge story because it's so interesting that they're

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Speaker 2: changing things around, canceling some models, moving some back, but

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Speaker 2: also bringing in a new technology that Jim Farley talked

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Speaker 2: a lot with you and I about last time he

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Speaker 2: was on. Here's Keith Norton. Keith, there was a fascinating

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Speaker 2: story a couple of days ago about Ford again changing

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Speaker 2: its EV strategy. I know you spoke with the CEO

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Speaker 2: and the CFO. What did they have to say for themselves?

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Speaker 4: Well, Jim Farley, Ford CEO says he thinks they've got

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Speaker 4: it right this time and this is the new precise plan.

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Speaker 4: What did he call it? He said, it's the exact

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Speaker 4: right plan and that he's very confident that it'll work

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Speaker 4: this time. As you know, Ford got cut up in

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Speaker 4: the hype cycle two three years ago coming out of

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Speaker 4: the pandemic and started building battery factories, built its first

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Speaker 4: new assembly plant in fifty years down in Tennessee. They

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Speaker 4: have built up so much capacity for electric vehicles that

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Speaker 4: is no longer needed. Now they're trying to recalibrate, retrench,

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Speaker 4: find a new way.

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Speaker 1: Can I just ask your own personal opinion, how do

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Speaker 1: we know they have it right this time? I mean,

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Speaker 1: are you sensing anything different?

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Speaker 4: We don't know that they have it right this time.

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Speaker 4: They're still banking on growth. But the problem is while

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Speaker 4: EV sales are up this year, two things One, the

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Speaker 4: price of evs is down by twenty percent, so it's

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Speaker 4: very very hard to make a buck on evs, which

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Speaker 4: is not a great motivator for developing more evs right,

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Speaker 4: which is why Ford canceled the three to row SUV

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Speaker 4: electric that they're going to make. They're very far down

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Speaker 4: the road with that. It's going to cost them almost

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Speaker 4: two billion dollars to cancel that program.

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Speaker 3: Not something they wanted to do. So, you know, the.

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Speaker 4: EV business case is not great. Also, a big reason

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Speaker 4: for that, EV demand is still not great. So the

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Speaker 4: first half of the year, EV's accounted for nine point

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Speaker 4: seven percent of the US market. Another way to look

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Speaker 4: at that is more than nine out of ten car

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Speaker 4: sold in America West so far this year have been

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Speaker 4: traditional internal combustion engine vehicles or hybrids, mostly internal combustion

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Speaker 4: engine vehicles. Last year's EV market penetration was the same

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Speaker 4: seven point eight percent. It's below eight percent, and so

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Speaker 4: you know, EV's particularly in the United States, but really

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Speaker 4: globally have seriously slowed down as we've reached mainstream buyers.

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Speaker 2: So they're growing still, but they're just not growing as

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Speaker 2: quickly as these companies would like them to. Certainly their

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Speaker 2: investment in evs isn't justified by the growth that they're seeing.

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Speaker 2: And what about hybrids. I mean, you've been reporting Keith

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Speaker 2: a lot about hybrids. I've read stories that you know,

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Speaker 2: buyers are more interested in hybrids at least, and that's

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Speaker 2: a greener, you know, solution at the tailpipe than traditional

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Speaker 2: gas vehicles for the most part. So is FORG going

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Speaker 2: to start building more hybrids? I mean, when Jim Farley

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Speaker 2: was on this podcast with Hannah and myself, he was

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Speaker 2: all up on erevs.

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Speaker 4: Right, and absolutely hybrids are hot and everybody is trying

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Speaker 4: to build more of them. Ford is doubling its hybrid

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Speaker 4: capacity for the F one fifty. The F one fifty

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Speaker 4: hybrid is going gangbusters, as is the Mavericks, the Tiny Truck,

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Speaker 4: the compact pickup truck that Ford offers as a hybrid.

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Speaker 4: So hybrids are hot. And then yes, that specific new

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Speaker 4: kind of hybrid, the extended range electric vehicle, the EREV

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Speaker 4: that really isn't for sale in the United States right now.

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Speaker 4: Barley's very hot on it. Stilantis Chrysler parents. Stilantis has

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Speaker 4: an EREV version of its RAM pickup truck coming next

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Speaker 4: year called the RAM Charger that it says will go

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Speaker 4: six hundred and ninety miles on a charge.

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Speaker 3: As you guys know, an EREV.

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Speaker 4: Ryan runs primarily on electricity, but there is a small

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Speaker 4: internal combustion engine whose only job is to recharge the battery.

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Speaker 4: It doesn't drive the wheels, So you can go very

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Speaker 4: far in an e REV and have very low CO

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Speaker 4: two output.

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Speaker 1: So I'm curious, you know, what are the chances that

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Speaker 1: General Motors follow suit?

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Speaker 4: Here?

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Speaker 1: You know, we see Ford pulling back. Can we expect

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Speaker 1: to see GM now canceling some planned EV launches that

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Speaker 1: they have in the near future?

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Speaker 3: You know, Hannah.

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Speaker 4: They've already delayed programs. They've delayed the Silverado Electric Silverado

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Speaker 4: several times now, so I think they're already pulling back.

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Speaker 4: I don't know if they'll do it in such a

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Speaker 4: sort of comprehensive fashion as Ford announced this week.

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Speaker 3: You know, Ford, as you guys recall, a couple of

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Speaker 3: years ago.

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Speaker 4: UH carved off its EV business into its own separate

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Speaker 4: unit that they call Model every.

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Speaker 2: Way before we just gloss over that's incredibly clever, right

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Speaker 2: it is.

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Speaker 4: The Model T company has a Model E unit. Sadly,

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Speaker 4: the Model E unit is projected by Ford to lose

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Speaker 4: as much as five point five billion dollars this year.

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Speaker 4: That's not really what they planned. So because they have

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Speaker 4: this you know, stronger spotlight on this separate unit, you know,

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Speaker 4: it's kind of incumbent on them to explain how they're

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Speaker 4: going to eventually make money in that unit. They still

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Speaker 4: won't say when modeling will be profitable, but they now

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Speaker 4: say when they launch a new EV, it must be

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Speaker 4: profitable within its first year, otherwise they won't approve the program.

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Speaker 4: That's why they killed the electric suv. They have a

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Speaker 4: new mid size electric pickup truck coming in twenty twenty seven.

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Speaker 4: That is going to be profitable, they say in its

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Speaker 4: first year. It comes out of this what they call

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Speaker 4: Skunkworks project in California that's developing a new low cost

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Speaker 4: DV platform that they say will offer a number of models,

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Speaker 4: you know, from twenty five thousand dollars up.

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Speaker 2: What is the skunk Works? I heard that too. I

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Speaker 2: was on the phone with Barbosa the other night and

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Speaker 2: he mentioned it. I thought skunk Works was like, you know,

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Speaker 2: a secret room in the building where you have the

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Speaker 2: smartest nerds developing like a super fast race car. Right.

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Speaker 2: Isn't skunk works traditionally where you develop like the special

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Speaker 2: version of a car. What are they doing there in California?

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Speaker 4: Yeah, so it's separated out in Irvine, California. Alan Clark,

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Speaker 4: who had been Tesla's chief engineer on the model, why

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Speaker 4: leads to the program. It's only one hundred people, which

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Speaker 4: is very small for a car program, and they're really

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Speaker 4: approaching it very differently. It's been going for about two

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Speaker 4: two and a half years. It was going in secret

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Speaker 4: for a long time, but then as Ford needed to

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Speaker 4: talk about something positive, they revealed that this was convenient

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Speaker 4: in the works. Yeah, and so it really operates differently.

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Speaker 4: It's cross functional, small, dedicated, focused team. So that's why

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Speaker 4: they call it a skunkworks, Matt. They feel like it's

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Speaker 4: in the tradition of the you know, kind of garage built,

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Speaker 4: you know, invented product.

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Speaker 1: The other thing I'm wondering about, Keith, is, you know,

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Speaker 1: how much of a hit is this for Ford. Can

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Speaker 1: they just kind of you know, absorb the losses and

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Speaker 1: keep moving forward or is this really a significant setback

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Speaker 1: that will affect them for years to come.

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Speaker 2: Well, remember how crushed their stock got on earnings last time, right,

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Speaker 2: I think they were literally decimated in terms of market cap,

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Speaker 2: being reduced by more than a.

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Speaker 4: Tenth, Right, So they cannot lose five billion plus on

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Speaker 4: their EV and for years to come, So they really

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Speaker 4: need to turn that around. Also, getting a profitable EV

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Speaker 4: business is essential to surviving and thriving into the future.

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Speaker 4: It's not like this EV slowdown means that evs are

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Speaker 4: dead or that evs aren't going to happen.

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Speaker 3: They are going to happen.

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Speaker 4: You just need to find a business case to do

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Speaker 4: them profitably. And right now, what it appears and what

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Speaker 4: Ford is pursuing is, you know, mainstream consumers need a

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Speaker 4: bridge to evs. They're not going to go EV cold Turkey.

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Speaker 4: So if you can give them an e REV or

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Speaker 4: even just a traditional hybrid or a plug in hybrid

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Speaker 4: that you know, gets them a little electrified or in

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Speaker 4: the case of an e REV, a lot electrified, then

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Speaker 4: they realize they can do this. You know, if you

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Speaker 4: use an e REV, for example, you're going to drive

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Speaker 4: around on electric power ninety five percent of the time,

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Speaker 4: and you're going to come to realize, you know what,

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Speaker 4: I don't need this internal combustion engine backup. I can

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Speaker 4: go all battery. Maybe it takes you a generation or

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Speaker 4: even two of driving a vehicle like that, but it

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Speaker 4: gets you there and right. And so just flipping a

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Speaker 4: switch and going from ice internal combustion engine to fully

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Speaker 4: battery electric vehicle, that's asking a lot of mainstream consumers,

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Speaker 4: particularly when the EDS come at a very high cost premium.

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Speaker 2: So let's talk for a second about the models that

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Speaker 2: they either canceled or delayed, starting with the three row SUV.

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Speaker 2: Was that going to be just like an expedition, like

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Speaker 2: an electric expedition or did we have a name for that?

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Speaker 2: Have you seen what it was going to look.

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Speaker 4: Like they didn't give a name or really let us

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Speaker 4: see it. But the implication and what the buzz you

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Speaker 4: heard in the industry was it was met really more

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Speaker 4: like an explorer, which you know is three rows as well,

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Speaker 4: so not quite the size of an expedition, which is

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Speaker 4: the Ford version of the Lincoln Navigator. I don't know

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Speaker 4: which one of those is more famous, maybe the Navigator.

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Speaker 4: That's a really big vehicle. And as you guys know,

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Speaker 4: the bigger the vehicle, the bigger the battery you need

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Speaker 4: to run it, and is the most costly component of

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Speaker 4: an electric vehicle. That's why big SUVs electrified doesn't pencil

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Speaker 4: right now. Battery technology has not reached a point where

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Speaker 4: you can make a profit on a really huge battery,

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Speaker 4: not to mention that it adds a lot of weight

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Speaker 4: to the vehicle, which is you know, never a positive

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Speaker 4: for drive handling, environmental friendliness, any of those things.

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Speaker 2: And then the truck. Yeah, wa, way did you see

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Speaker 2: you saw the new Lincoln Navigator at Yeah, I think

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Speaker 2: it's beautiful.

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Speaker 1: Yeah. Cool.

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Speaker 4: And you'll notice that Ford is still not offering a

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Speaker 4: hybrid version of the Lincoln Navigator, and they're not offering

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Speaker 4: an electric version of Link Navigator. For the reasons we're discussing.

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Speaker 2: Is there at least in the Navigator or do they

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Speaker 2: still make you the usually Ford's thing is they, with

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Speaker 2: the exception of the Mustang right, they drop the V

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Speaker 2: eight and they try and convince themselves and can consumers

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Speaker 2: that we can do okay with a three and a

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Speaker 2: half leter Eco Boost V six.

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Speaker 3: But it's just which has been.

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Speaker 4: Which has been wildly successful, Matt in the F one

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Speaker 4: fifty they sell more sixes than eight's in the F

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Speaker 4: one fifty.

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Speaker 2: Well, because they don't really offer you much of a choice.

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Speaker 2: You can't get the six point two that you could

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Speaker 2: in the first generation Raptor. You have to get either

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Speaker 2: the three and a half leter V six, which, to

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Speaker 2: be honest, it's not a great experience driving in my

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Speaker 2: personal opinion. It's just you don't have the fullness, you

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Speaker 2: don't have the warmth of a V eight. You can

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Speaker 2: feel that it's a kind of a wimpy little V six.

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Speaker 2: And the only way you can step up if is

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Speaker 2: you want to spend one hundred and ten thousand dollars

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Speaker 2: and get the Raptor R. But I'm going on a

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Speaker 2: rant here.

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Speaker 3: The new warmth warmth A warmth is a good word

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Speaker 3: for it, Matt, as in global warming.

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Speaker 4: So perhaps they don't offer big V eights because the

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Speaker 4: EPA frowns on them, right.

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Speaker 1: I mean minor detail.

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Speaker 2: I mean to save one mile a gallon.

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Speaker 3: So let's remember the environment. Let's not forget the environment,

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Speaker 3: all right, So.

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Speaker 2: Let's let's so the environment's going to love I'm sure

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Speaker 2: the uh, the new F one fifty is it going

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Speaker 2: to be the ones built in Tennessee. They're not going

383
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Speaker 2: to come out until twenty twenty seven, But is this

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Speaker 2: going to be a total departure from the from the

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Speaker 2: current F one fifty.

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Speaker 4: The current F one fifty lightning? Do you mean the

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Speaker 4: current electric version?

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Speaker 1: No?

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Speaker 3: No, no, no, because the I.

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Speaker 2: Mean just in general from the you know, the body,

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Speaker 2: the functionality, the capability. Because they're talking about this new

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Speaker 2: truck that'll be built in Tennessee as a completely different vehicle, right.

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Speaker 4: Right, And it is ground up, brand new, purpose built

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Speaker 4: electric vehicle. It will have lots of very it'll be

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Speaker 4: a connected, software driven vehicle. Farley has said, you'll be

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Speaker 4: able to drive. I don't know if drives the right

397
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Speaker 4: word be behind the steering wheel and up without your

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Speaker 4: hands on the without operate without your hands on the

399
00:21:56,840 --> 00:22:00,520
Speaker 4: wheel or even looking out the windshield. You can take

400
00:22:00,520 --> 00:22:03,359
Speaker 4: eyes off the road and do your email, have a

401
00:22:03,640 --> 00:22:08,119
Speaker 4: zoom whatever while you're in this next gen electric F

402
00:22:08,200 --> 00:22:12,480
Speaker 4: one fifty. So it's going to be very advanced, but again,

403
00:22:12,960 --> 00:22:17,000
Speaker 4: big vehicle, big battery. So one of the big reasons

404
00:22:17,000 --> 00:22:20,280
Speaker 4: they've pushed it back is they need new battery technology

405
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Speaker 4: to develop that's cheaper. They have this LFP battery plant

406
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Speaker 4: coming online in Michigan that uses the the battery chemistry

407
00:22:30,760 --> 00:22:34,280
Speaker 4: that is significantly lower cost. That could end up in

408
00:22:34,320 --> 00:22:38,359
Speaker 4: the F one fifty. It probably will, And they have

409
00:22:38,480 --> 00:22:41,479
Speaker 4: other battery chemistries coming that are lower costs. That's one

410
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Speaker 4: of the reasons they pushed it back. They're trying to

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Speaker 4: make a business case out of the thing. It's going

412
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Speaker 4: to fall under the same new rule that it must

413
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Speaker 4: be profitable within the first year on the market, and

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Speaker 4: the current F one fifty Lightning is not profitable, and

415
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Speaker 4: the current Machi is not profitable.

416
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Speaker 2: If you log onto your Bloomberg key, you'll see I

417
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Speaker 2: just put in an ib chat a great chart that

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Speaker 2: shows Ford margins versus GM margins and Tesla margins. I

419
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Speaker 2: was surprised to see GM margins are so fat. You know,

420
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Speaker 2: they're right up there with Tesla at nineteen percent and

421
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Speaker 2: for these are operating margins. Obviously, Ford is down below ten.

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Speaker 2: So they really need to fight their way back up

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Speaker 2: to the other two American carmakers.

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Speaker 4: They sure do. And you know GM is saying their

425
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Speaker 4: evs will be profitable by the end of this year.

426
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Speaker 4: I can't give you the math on that, because I

427
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Speaker 4: don't think they've provided the math on that, but that

428
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Speaker 4: is what they're saying. So you know, Ford is losing

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Speaker 4: its shirt on electric vehicles right now.

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Speaker 3: You know, our.

431
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Speaker 4: Bloomberg intelligence says they're for the first half of the

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Speaker 4: year they lost more than sixty eight thousand dollars on

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Speaker 4: every ED they sold.

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Speaker 2: Good to get the intel. Good intel, Yeah, good int,

435
00:24:01,920 --> 00:24:05,320
Speaker 2: and great story, great reporting. I'm glad you could join us, Keith,

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00:24:05,359 --> 00:24:08,080
Speaker 2: and I look forward to continuing to read your byeline

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Speaker 2: every day.

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Speaker 1: So thanks so much, Thank you Keith, Thanks Matt, great talk.

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Speaker 4: Thanks Sanna.

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Speaker 2: If you have any questions for us, suggestions or criticisms

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Speaker 2: or compliments, you can email us at.

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Speaker 1: Hot Pursuit at Bloomberg dot net. I had to think

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00:24:22,320 --> 00:24:26,040
Speaker 1: about it for a second. Hot Pursuit at Bloomberg dot net.

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00:24:26,119 --> 00:24:28,879
Speaker 1: And we do read and respond to your emails. We

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Speaker 1: love to hear from you.

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00:24:29,720 --> 00:24:31,639
Speaker 2: Yes, we do Hot Pursuit at Bloomberg dot net. What

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00:24:31,680 --> 00:24:33,439
Speaker 2: are you doing? What have you got for this this

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00:24:33,480 --> 00:24:34,080
Speaker 2: week coming up?

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00:24:35,040 --> 00:24:37,399
Speaker 1: You know what? This weekend, I hope to do a

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Speaker 1: lot of nothing, nothing, nothing, nothing. Yeah, I mean, it's

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Speaker 1: just like the past two weeks have gone by in

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Speaker 1: a snap, so I'm hoping to really veg out.

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Speaker 2: All right, I'm going to Spain, but I'll call you

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Speaker 2: from there.

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Speaker 1: Oh, you got to pick the girls up.

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Speaker 2: Yes, I'll be in Valentia next time I speak. What

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Speaker 2: a guy I'm looking forward to. That's all we got

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Speaker 2: for this week. Will be back, same time, same place

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Speaker 2: next week. I'm Matt Miller and

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Speaker 1: I'm Hannah Elliott, and this is Bloomberg