Ford Motor Company via AP There is more bad news for electric vehicle manufacturers.
After declaring its annual results a success, Ford has revealed that it incurred a loss of $4.7 billion on its electric vehicle range, more than the $4.5 billion the company predicted in the middle of last year.
Advertisement
The company’s annual summary states: Ford Model e’s wholesales and revenue were both up at double-digit full-year rates. The startup segment incurred a full-year EBIT loss of $4.7 billion, reflecting an extremely competitive pricing environment, along with strategic investments in the development of clean-sheet, nextgeneration EVs.Sales volumes of the F-150 Lightning pickup and Mustang Mach-E SUV both were up yearover-year and respectively the top-selling electric pickup and No. 3 most popular EV of any typein the U.S. for 2023. Despite incurring such losses, Ford CFO John Lawyer insisted that things are moving in the right direction: The customer insights we’re […]
Read the Whole Article From the Source: redstate.com
-
Learn the TRUTH about Gold IRAs and how most precious metals companies play dirty.