Reported 8 months ago
Ford Motor Company is experiencing significant losses on every electric vehicle (EV) it manufactures, with Ford Model e reporting a $1.32 billion loss in the first quarter. The costs, particularly for batteries, are a major contributing factor to the losses exceeding $100,000 per EV in the first quarter, double compared to the previous year. To mitigate these losses, Ford is reducing spending on battery-powered vehicles, delaying new EV launches, and adjusting its EV strategy. Despite these setbacks, Ford remains hopeful for a return on its substantial EV investments in the future.
Source: YAHOO