American automakers Ford and GM do not agree on where hybrids will be in the future. Ford’s CEO says hybrids should stop being talked about as “transitional,” while GM’s leader claims the tech is “not the end game” as it’s not zero-emission.
Ford and GM take sides on hybrids vs EVs
There’s a growing divide among automakers regarding how to approach hybrids. Automakers like Toyota, known for its hybrids, are doubling down on the tech, expecting slower-than-expected EV demand.
After pushing back over $12 billion in EV investments, Ford CEO Jim Farley announced the automaker would lean into hybrids last year.
Farley told investors on Ford’s Q3 2023 earnings call Ford Blue (Ford’s ICE business) “will be strong and a growing business for years to come.”
Ford’s leader added he was “thankful we have kept our foot on the has to freshen our ICE and HEV products as we enter a changing market.” Farley reiterated these comments at Bernstein’s 40th Annual Strategic Conference Thursday.
“We should stop talking about it as transitional technology,” Farley said, adding, “Many of our hybrids in the U.S. are now more profitable than their non-hybrid equivalent.”
Ford Mustang Mach-E plugged into a Tesla Supercharger (Source: Ford)
Although plug-in hybrids (PHEVs) may be phased out, Farley stressed that extended-range hybrids are key to the industry’s future.
Meanwhile, GM CEO Mary Barra had a different view. “It’s not the end game because it’s not zero emission,” Barra said about hybrids. “We’re trying to be very smart about how we do that and how we deploy capital there,” Barra explained at the conference.
Ultium EVs outside GM’s Mountain View, CA office (Source: GM/ Jim Gensheimer)
Despite promoting “all-in on EVs” last year, Barra did confirm GM would launch PHEVs in North America in January. The new models are expected to arrive in 2027.
Electrek’s Take
As Electrek has argued in the past, hybrids are transitional and already past their prime. Several automakers, like Tesla, have proven that you can build and sell EVs profitably.
Other EV makers, including startup Rivian, expect to achieve a positive gross profit by the end of the year.
After slashing prices earlier this year, Ford’s EV unit (Model e) lost another $1.3 billion in the first three months of 2024. That’s after reporting a full-year EBIT loss of $4.7 billion last year.
Ford also released a new brand campaign, “Freedom of Choice,” to promote its gas, hybrid, and EVs as it shifts its strategy.
GM, which doesn’t break down financial results for electric cars, sold 16,425 EVs in Q1, down over 20% as it phased out its best-selling Bolt EV.
With new EVs launching this year, including the Chevy Blazer EV, Equinox EV, Silverado EV, and Cadillac Optiq, GM believes it can turn things around.
Barra calls 2024 the “year of execution,” as it overcomes production hurdles that held EV production back last year.
Next year, the next-gen Chevy Bolt EV is due out, which will be “the most affordable [electric] vehicle on the market by 2025,” according to new North American president Marissa West.
Logo of the Organization of the Petroleum Exporting Countries (OPEC)
Andrey Rudakov | Bloomberg | Getty Images
U.S. crude oil futures fell more than 4% on Sunday, after OPEC+ agreed to surge production for a second month.
U.S. crude was down $2.49, or 4.27%, to $55.80 a barrel shortly after trading opened. Global benchmark Brent fell $2.39, or 3.9%, to $58.90 per barrel. Oil prices have fallen more than 20% this year.
The eight producers in the group, led by Saudi Arabia, agreed on Saturday to increase output by another 411,000 barrels per day in June. The decision comes a month after OPEC+ surprised the market by agreeing to surge production in May by the same amount.
The June production hike is nearly triple the 140,000 bpd that Goldman Sachs had originally forecast. OPEC+ is bringing more than 800,000 bpd of additional supply to the market over the course of two months.
Oil prices in April posted the biggest monthly loss since 2021, as U.S. President Donald Trump’s tariffs have raised fears of a recession that will slow demand at the same time that OPEC+ is quickly increasing supply.
Oilfield service firms such as Baker Hughes and SLB are expecting investment in exploration and production to decline this year due to the weak price environment.
“The prospects of an oversupplied oil market, rising tariffs, uncertainty in Mexico and activity weakness in Saudi Arabia are collectively constraining international upstream spending levels,” Baker Hughes CEO Lorenzo Simonelli said on the company’s first-quarter earnings call on April 25.
Oil majors Chevron and Exxon reported first-quarter earnings last week that fell compared to the same period in 2024 due to lower oil prices.
Goldman is forecasting that U.S. crude and Brent prices will average $59 and $63 per barrel, respectively, this year.
In a bid to keep up with the rapid growth of EVs, Chicago Department of Transportation (CDOT is currently seeking public feedback on a plan called “Chicago Moves Electric Framework.” The city’s first such plan, it outlines initiatives that include a curbside charging pilot through the city’s utility, ComEd, and expanded charging access in key areas throughout the city.
Unlike other such plans, however, the new plan aims to focus on bringing electric vehicle charging to EIEC and low income communities, too.
“Through this framework, we are setting clear goals and identifying solutions that reflect the voices of our residents, communities, and regional partners,” said CDOT Commissioner Tom Carney. “By prioritizing equity and public input, we’re creating a roadmap for electric transportation that serves every neighborhood and helps drive down emissions across Chicago.”
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Neighborhoods on the south and west sides of Chicago experience a disproportionate amount of air pollution and diesel emissions, largely due to vehicle emissions according to CDOT. Despite that, most of Chicago’s public charging stations are clustered in higher-income areas while just 7.8% are in environmental justice neighborhoods that face higher environmental burdens.
“Too often, communities facing the greatest economic and transportation barriers also experience the most air pollution,” explains Chicago Mayor Brandon Johnson. “By prioritizing investments in historically underserved areas and making clean transportation options more affordable and accessible, we can improve both mobility and public health.”
The Framework identifies other near-term policy objectives, as well – such as streamlining the EV charger installation process for businesses and residents and implementing “Low-Emission Zones” in areas disproportionately impacted by air pollution by limiting, or even restricting, access to conventional medium- and heavy-duty vehicles during peak hours.
The Chicago Moves Electric Framework includes the installation of Level 2 and DC fast charging stations in public locations such as libraries and Chicago’s Midway Airport, “supporting not only personal EVs but also electric taxis, ride-hail and commercial fleets.”
Chicago has a goal of installing 2,500 public passenger EV charging stations and electrifying the city’s entire municipal vehicle fleet by 2035.
Electrek’s Take
ComEd press conference at Chicago Drives Electric, 2024; by the author.
Bodo G-Wagon electric golf cart; via Mecum Auctions.
With a fully-enclosed, G-Wagen-inspired body and an 80 mile electric range, the Bodo G-Wagon golf cart is the NEV you need when you decide it’s time to get serous one-upping the rest of the Palm Beach country clubbers.
The shiny black 2024 Bodo G-Wagon sold at Mecum Auctions last month for $31,900, which seems like it might not be a lot of money to the sort of person who decides to take a flyer on a goofy, limited-use EV that ships with real, metal doors, power windows, heating and air conditioning, fully digital instrument cluster and infotainment, and a “posh,” caramel leather interior.
It even has windshield wipers, power steering, and a rear-seat entertainment system that’s built into the front headrests!
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It’s really nice in there
Under the hood, the Bodo packs a 15 kW (20 hp) electric motor drawing power from a 10 kWh li-ion battery that won’t deliver a scorching 0-60 mph time (it only goes 35), but will deliver you and your buddies from one end of any golf course in North America and back several times over, thanks to the G-Wagon’s 80 mile range.
The official Mecum Auctions listing goes into a bit more detail, and I’ve included it here, in case it gets deleted after a while and you’re just finding this for the first time in 2027:
Be the envy of any country club or golf community showing up with this 2024 Bodo G-Wagon Golf Cart. Perhaps more appropriately known as an E-Wagon, this baby G-Wagon is powered by a 15kW motor with a 10kWh lithium battery. Boasting an 80-mile range and a 35 MPH top speed, the Bodo is an enclosed, luxury golf cart that pampers occupants with heating and air conditioning, rear-seat entertainment, power windows, power locks and a posh, caramel-colored interior. With the Bodo fitted with power steering and 4-wheel power disc brakes with brake boost, drivers will think they’re in a full-size G-Wagon, thanks to the multiscreen entertainment cluster, the rearview camera, windshield wipers, turn signals, running lights and so much more.
Finished in black with the right amount of brightwork, the overall vibe is one of jaw-dropping, smile-inducing fun. While the Bodo would be an excellent choice for any golf community, it should also prove to be hugely popular around a race track or car condo community as well, or maybe even a neighborhood with its own airplane runways. Over the past decade in particular, the demand for unique, luxury golf carts has been on the rise, and understandably so. The number of luxury communities with specific interests in sports, aero and auto has also been on the rise, with people buying homes in these exclusive locations to better engage with like-minded people. All too often a golf cart is the perfect way to get around these gated neighborhoods, and this one is enclosed, comes with the amenities of a full-size car and is infinitely more stylish.
You can check out a few more photos of the 2024 Bodo G-Wagon golf cart that sold at Mecum, below – and if you want one for yourself, you’re in luck! I found this brand-new 2025 “G600 E-Wagon” (in white) for $23,900 at Gulf Carts in Santa Rosa Beach, Florida. Head on down to the comments and let us know if you buy it.
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