Ford admits losing $100k on every EV sold

Bloomberg claims that Ford has lost U.S. $100,000 on every electric vehicle it sold in the first quarter of the year.

Interestingly, the company has managed to ramp up EV sales by a healthy-looking 86 percent compared to Q1 2023. The same statistic doesn’t look so hot in absolute terms, though: Ford EV sales over the period came to a meager 20,223 units.

The company has now scaled back new battery pack acquisitions and revised its electrification strategy moving forward. It has also backed out of the plan to go full-on electric in Europe by the early 2030s, saying that the strategy will ultimately depend on Europe’s continued interest towards traditional ICE cars.