Brace for the Wind and Electric-Vehicle Bailouts

Ford assured investors last week that its generous deal with the United Auto Workers wouldn’t threaten its profitability. Maybe. The same can’t be said of its electric vehicles, which lost $3.1 billion during the first nine months of this year.

Those losses will doubtless grow, and anyone who thinks Washington won’t give auto makers another bailout should think again. Last week Munich-based Siemens Energy, one of the world’s top wind manufacturers, said the German government is prepared to extend as much as €16 billion (or $16.9 billion) in state guarantees to rescue it.