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Ford CEO predicts ‘pace of EV adoption will be slower than expected’ in the near term

(Credit: Ford)

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Ford CEO Jim Farley predicted that electric vehicle (EV) adoption will be slower than expected, at least in the near term. Ford recently released its second-quarter results, revealing a substantial loss in its electric vehicle division. 

While the veteran automaker reported revenue of $45 billion, which represents a 12% increase year-over-year, Ford also shared that it had lost $1.1 billion before interest and taxes on its electric vehicle business during the second quarter. The figure is over twice as much as the previous year’s losses.

 

As noted in a report from The New York Times, Ford is now expecting to lose $4.5 billion before interest and taxes on its electric vehicles this 2023. Previous forecasts estimated losses to be at around $3 billion. Ford Chief Financial Officer (CFO) John Lawler shared a comment about the trend in a conference call. 

“While the shift to EVs is unquestionably underway, the last few weeks have shown us the adoption by early, majority customers will be a little slower than expected,” Lawler said. He also noted that Ford was slowing its rollout of electric vehicles to some degree, with the company now expecting to make 600,000 EVs a year by the end of 2024. Previously, Ford aimed to reach such levels by the end of this year.

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Despite the larger losses, Ford’s electric vehicle business is still growing. As noted by the company in a press release, revenue from Ford Model e’s first-generation electric cars rose 39% in the second quarter. Ford CEO Jim Farley remained optimistic about the matter. 

“The near-term pace of EV adoption will be a little slower than expected, which is going to benefit early movers like Ford. EV customers are brand loyal, and we’re winning lots of them with our high-volume, first-generation products; we’re making smart investments in capabilities and capacity around the world; and, while others are trying to catch up, we have clean-sheet, next-generation products in advanced development that will blow people away,” Farley said. 

The Teslarati team would appreciate hearing from you. If you have any tips, contact me at maria@teslarati.com or via Twitter @Writer_01001101.

Maria--aka "M"-- is an experienced writer and book editor. She's written about several topics including health, tech, and politics. As a book editor, she's worked with authors who write Sci-Fi, Romance, and Dark Fantasy. M loves hearing from TESLARATI readers. If you have any tips or article ideas, contact her at maria@teslarati.com or via X, @Writer_01001101.

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Tesla door handle saga gets its latest chapter and a big change is coming

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Credit: Tesla | Model 3 Owner's Manual

Tesla’s long-standing saga regarding its door handles and a manual release has entered its latest chapter, and as a result, a big change is coming.

On Friday, the National Highway Traffic Safety Administration (NHTSA) denied Tesla’s petition that was seeking a defect investigation into roughly 180,000 Model 3 vehicles for an issue involving the emergency mechanical door release.

NHTSA said that Tesla’s petition did not present evidence of a safety-related defect in the door handles or their emergency releases. Instead, the agency determined that it would rather solve the issue of the lack of labeling or location of emergency mechanical door releases and the federal safety rules that govern them.

Essentially, the NHTSA wants to create and enforce rules that would require automakers to make emergency door latch releases more clearly labeled in a car. Despite a Tesla having manual door releases on all four passenger doors, many people do not know they exist or how they work.

Tesla addresses door handle complaints with simple engineering fix

In recent times, Tesla has faced some criticism involving its door handles, specifically because some occupants have reported that they are unable to exit their vehicles after losing power. The door handles on a Tesla are electronically operated, but in the event that the 12V battery dies, there is a manual release that can be used.

The NHTSA only identified a single complaint involving the mechanical door releases: a 2022 Model 3 owner said the release was concealed and unlabeled after the vehicle lost power after a front-end collision. It has also already started to create a separate rulemaking process to make emergency door-egress systems more obvious.

It should be noted that all Teslas have mechanical emergency door releases, but they are placed in various locations as the vehicles have aged and been redesigned from year to year. Refer to the safety manual for your vehicle if you have any confusion about where the emergency releases are and how they work.

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SpaceX Starship Flight 13 faces wrath of the Texas skies

SpaceX pushed Starship Flight 13 to Friday, blaming weather instead of the previous engine issues.

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SpaceX called off Thursday’s launch attempt of Starship Flight 13, pushing the mission to Friday because of weather tied to Tropical Storm Bertha. The company confirmed the delay on X, noting “Now targeting Friday, July 24 for Starship’s thirteenth flight test, due to weather. A key objective for the flight test is to get clear imagery from the ground of Starship’s heatshield as it flies at a higher dynamic pressure during ascent, which won’t be possible with today’s weather conditions.”

This is the second delay for Flight 13 in two weeks. SpaceX first tried to launch the mission on July 16, but the countdown ended in an automated abort at T-0 when four of Super Heavy Booster 20’s 33 Raptor engines failed to ignite. Musk said at the time that two Raptors would need to be removed and replaced, as Teslarati reported. The company spent the following week destacking Ship 40 and Booster 20, swapping engines, and running leak checks before restacking the vehicle on Pad 2 Wednesday night, according to Spaceflight Now’s live coverage.

Elon Musk debunks $52 billion SpaceX-NVIDIA GPU deal

 

Unlike the engine problem, Thursday’s delay has nothing to do with the hardware. SpaceX wants clean footage of Starship’s heat shield captured from the ground as the vehicle flies through max dynamic pressure, something the storm’s cloud cover over South Texas would not allow. The company said visibility should improve for Friday’s attempt, with the same 90 minute window opening at 5:45 p.m. CT.

Flight 13 will be the second outing for the V3 versions of Starship and Super Heavy, following their debut on Flight 12 in May. The mission carries 20 production Starlink V3 satellites, the first time SpaceX has flown operational satellites rather than mass simulators on Starship. Six of those satellites are fitted with cameras to inspect the heat shield from a different angle during ascent, giving engineers a second data source beyond the ground imagery the weather is currently blocking.

Booster 20 will attempt a boostback burn and a splashdown landing burn in the Gulf of America, while Ship 40 follows a suborbital trajectory toward a landing in the Indian Ocean. The flight plan largely mirrors Flight 12, though the booster will run a more aggressive ascent burn after max Q this time, and the ship’s heat shield includes load sensing tiles meant to measure stress at the higher dynamic pressure SpaceX is targeting.

If Friday’s attempt succeeds, Flight 13 could be the last suborbital test in the program. SpaceX is already looking to push for an orbital flight on Flight 14.

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Investor's Corner

Tesla stock tumbles after earnings, one of its sharpest single-day declines

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Credit: Tesla

Tesla stock (NASDAQ: TSLA) endured one of its sharpest single-day declines in years on July 23, tumbling approximately 14.5 percent and closing near $320 after opening the session around $374. The drop erased more than $140 billion in market value amid heavy trading volume and left the shares at multi-week lows.

The sell-off followed the company’s second-quarter 2026 results, released the previous evening. Tesla reported record revenue of $28.2 billion, up 26 percent year over year, driven by a Q2-record 480,126 vehicle deliveries. Energy storage deployments also rose strongly.

Tesla (TSLA) Q2 2026 earnings results: miss on EPS, beat on revenue

Yet profitability disappointed sharply. Operating income fell 57 percent to $398 million, compressing the operating margin to just 1.4 percent. Non-GAAP earnings per share came in at $0.33, well below the roughly $0.53 analysts had expected. Free cash flow turned negative by $1.1 billion as capital expenditures surged 142 percent to $5.8 billion, largely tied to accelerated spending on artificial intelligence, robotics, and autonomous systems.

The losses on capex were expected, as Tesla said it would be spending heavily in 2026.

Investors also reacted to lingering uncertainty surrounding key product timelines. During the Earnings Call, management reiterated ambitions for Robotaxi deployment and the Optimus humanoid robot, but offered limited new concrete milestones, renewing questions about execution pace that have long accompanied Tesla’s ambitious roadmap.

The magnitude of the decline places it among Tesla’s more severe one-day percentage losses since its 2010 initial public offering. Historically, the two largest single-day drops (split-adjusted) remain September 8, 2020, when shares fell 21.1 percent amid broader market volatility and valuation concerns, and January 13, 2012, with a 19.3 percent plunge during the company’s early growth struggles.

Other notable declines include an 18.6 percent drop on March 16, 2020, at the onset of pandemic-related market turmoil. Thursday’s move ranks roughly ninth on the all-time list but stands out as the steepest in more than a year.

Despite the short-term pain, Tesla’s long-term trajectory has repeatedly recovered from such volatility. The latest results underscore both the strength of its core automotive and energy businesses and the near-term costs of heavy investment in next-generation technologies.

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