Ford set to lose $4.5 billion on electric vehicles this year, despite increased revenue
Ford set to lose $4.5 billion on electric vehicles this year, despite increased revenue
Ford Motor Company is set to lose a projected $4.5 billion from electric vehicles (EVs) this year, despite massive profits from other sectors of the company.
It costs a lot to get a new segment off the ground. It will pay off in time when they’re well prepared for the day only EV sales are allowed. The multiple new plants they’re building in the US will certainly help that
Meanwhile Tesla lowers prices and still takes in the dough. What’s Ford doing wrong here?
They're moving quickly to become relevant in the EV market. You can do things Cheap, Fast and Well, but you can only do two at a time. Ford is choosing speed and quality, so it's going to be expensive in the short term.
They are late. All old car manufactures are late in game. They did not want to believe in ev-tech or invest in it in time. Now they are suffering for consequences. Tesla and Chinese manufatures are ahead and now only way to compete is throwing shitloads of money in or perish.