EVLN(Political Apathy)-long
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--- {EVangel}
http://www.themoscowtimes.com/stories/2002/09/03/048.html
Tuesday, Sep. 3, 2002. Page 8
Ford Unplugs TH!NK After Consumer, Political Apathy
By Michael Ellis Reuters
DETROIT -- Ford Motor Co. is pulling the plug on its Think
electric vehicle division due to poor customer demand and
lack of government support for the environmentally friendly
cars.
Ford paid $23 million in 1999 for the Norway-based electric
vehicle company Pivco Industries, renaming it Think or
TH!NK, and has since invested $100 million in the technology
as a cure to environmental regulations on fuel economy and
emissions.
A company spokesman said the bottom line is that Ford does
not believe that this is the future of environmental
transport for the mass market.
When Think started production of the Think City electric car
in Norway nearly three years ago, officials said they hoped
to make 5,000 a year. But production since then has only
totaled a little below 1,050 cars. The spokesman described
the number as disappointing.
Ford will try to sell Think, or work with the Norwegian
government to transform the company to create a viable
business, the spokesman said. Ford hopes to make a decision
by the end of September on the future of Think, which has
two facilities outside Oslo and employs about 150 people.
The Think City, a two-seater, plastic-bodied hatchback sold
in Europe, has a range of about 80 kilometers in city
driving and requires up to six hours for a recharge.
Ford began producing the Think Neighbor, a golf cart-like
vehicle with a top speed of about 40 kilometers per hour, at
a Detroit plant last year. Ford said the plant could produce
up to 10,000 vehicles annually, but only 1,688 have been
sold so far this year. Ford will end production of the
Neighbor at the end of this year, spokeswoman Sara Tatchio
said.
The world's second-largest automaker is in the midst of a
turnaround plan after a $5.45 billion loss last year that
includes plant closings to cut costs.
Other automakers have also backed away from pure electric
vehicles. General Motors Corp., the world's largest
automaker, spent more than $1 billion to develop the GM EV1
electric vehicle in the 1990s. But the EV1 also suffered
from a limited range of less than 160 kilometers before it
needed hours of recharging time, and GM stopped building the
EV1 a few years ago.
"Battery electric vehicles are not there yet
technologically," said Jim Kliesch, a research associate
with the nonprofit American Council for an Energy-Efficient
Economy.
� Copyright 2002, The Moscow Times. All Rights Reserved.
===
http://quote.bloomberg.com/fgcgi.cgi?ptitle=Top%20Financial%20News&s1=blk&tp=ad_topright_topfin&T=markets_bfgcgi_content99.ht&s2=ad_right1_topfin&bt=ad_position1_topfin&middle=ad_frame2_topfin&s=APWJINBXlRm9yZCBT
Top Financial News 08/20 09:46 Ford Says Losses Make Its
Environmental Goals Harder (Update1) By Bill Koenig
Dearborn, Michigan, Aug. 20 (Bloomberg) -- Ford Motor Co.'s
efforts to reverse losses and lift auto sales have made it
harder to meet environmental targets such as cutting vehicle
emissions, according to the automaker's annual citizenship
report.
Combining environmental and financial goals ``may be our
biggest challenge in the coming years,'' the report said.
Deborah Zemke, Ford's director of corporate governance, said
the second- largest automaker is still pursuing
environmental targets.
``There is a question in the near term about pace -- not the
commitment but the pace,'' she said. ``Ford is still
committed.''
Environmental groups have awaited the report for signs that
Chief Executive Officer William Clay Ford Jr., who in the
past won praise on such issues, is backing off from targets
to improve fuel efficiency or cut emissions after taking
charge of the Dearborn, Michigan-based automaker in
October.
``We think it's a big step backwards,'' said Kate Simmons, a
spokeswoman for the Sierra Club. ``This report lays out no
real game plan.''
The company had a $5.45 billion loss last year and in
January CEO Ford announced a plan to cut jobs, close plants
and introduce new models to generate $7 billion in pretax
profits by 2005. The company's U.S. car and light- truck
sales fell 9.1 percent through July, more than eight times
the industrywide decline. The automaker previously said it
wants to reduce ``greenhouse gases'' and improve the average
fuel economy of its sport-utility vehicles.
Bill Ford, who was non-executive chairman at the time, made
headlines in 2000 and 2001 with reports in which he said
that sport-utility vehicles aren't as fuel- efficient or
clean as cars and that automakers may have added to global
warming. He became CEO in October after directors ousted
Jacques Nasser.
Gas-Electric Vehicle
The latest report cited the company's plans to build a
version of its Escape small sport-utility powered by both a
gasoline engine and electric motor late next year as an
example of how it will meet environmental targets. Honda
Motor Co. and Toyota Motor Corp. now offer gas-electric
hybrid cars, which use electric motors at low speeds and
improve gasoline mileage.
===
Wall Street Journal: Review & Outlook: Ford had a better
idea
Story Filed: Wednesday, September 04, 2002 12:00 PM EST
Sep 4, 2002, (Wall Street Journal /FT Information via
COMTEX) -- Ford Motor Co.'s decision to discontinue its
Think electric car is regrettable. Apparently, the auto
maker decided to abandon the car because of weak demand. For
some reason, Americans, especially those ardent
environmentalists belonging to the Sierra Club, prefer to
buy gas-guzzling SUVs instead of electric cars. Ford's move
means that the initiative of California to require car
manufacturers to offer low-emissions vehicles is not enough.
Instead of adopting this policy, the state should consider
requiring Californians to buy electric cars. Politicians
should also practice what they preach by driving such
vehicles.
Abstracted from: The Wall St Journal (US Edition) Copyright
2002: Financial Times Information. All rights reserved
KEYWORD: United States of America Americas North
America INDUSTRY KEYWORD: Automobile Mfg Motor Vehicle Mfg
SUBJECT CODE: Comment & Analysis Environment General
News Copyright � 2002, Financial Times World Media Abstract
Service: US, all rights reserved.
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