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Ford’s EV woes are piling up.
The company revealed plans to trim one of three shifts at its Michigan EV plant.
Last Friday…
Ford announced plans to “temporarily” trim one of three shifts from the EV plant where its electric truck—the F-150 Lightning—is built.
You might think that it may have something to do with the UAW strike.
But at least according to Ford, that’s not the case.
They say it’s because of “multiple constraints.”
But it doesn’t take a rocket scientist to see that it’s probably because Lightning sales have absolutely TANKED.
They sold 3,503 electric pickups between July and September – down 45% from last year.
Ford’s hope was to be churning them out at a pace of 150,000 units per year.
Desperate to get some sales…
Ford just introduced a new incentive with up to $7,500 in savings for buying or leasing a Lightning model.
In other words: Ford is doing EVERYTHING they can to catch up in the EV race – with no luck.
No matter what they do, it’s never enough to dethrone Tesla (NASDAQ: TSLA) as the undisputed king in the EV race.
Meanwhile, Tesla’s Cybertruck reservations have reportedly reached 2 million.
Musk says Tesla will produce up to 375,000 Cybertrucks per year.
Assuming all pre-orders turn into actual orders, that would result in a 5-year backlog.
Official pricing hasn’t yet been released – but it will likely be above $75k.
This means the Cybertruck could add $28 BILLION in annual sales for Tesla.
That’s why the launch of the Cybertruck is such a big deal.
And that’s why I’m betting on the secret Tesla partners that profit from Elon Musk’s new plan for the company.
Yours in Wealth,
Ian Wyatt