Ford is reportedly shrinking the number of EV batteries it orders from its suppliers. The automaker’s Model e division continues to spend money on development, hurting its profitability. Ford continues to invest in new electric vehicles that it hopes will become profitable soon. The transition to electric vehicles has been anything but smooth, and companies like Ford have struggled as consumer interest in the technology has cooled.
One source told Bloomberg that in the first quarter, Ford lost more than $100,000 per electric vehicle it sold. However, in an opinion column for the same outlet, David Fickling described the number as misleading. The figure is bogus, dependent on a quirk of US accounting rules that mean the one-time expense of rethinking the automotive power train for the first time in a century is being treated as an ongoing annual expense, and then divided by 2024’s lackluster EV sales, wrote Fickling.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Gizmodo - 🏆 556. / 51 Read more »
Source: FoxBusiness - 🏆 458. / 53 Read more »
2024 Ford Ranger SuperCrew 4X4 XLT First Test: New Ranger, Same Old FordThe new Ranger hits the right notes, catapulting it up the midsize truck standings.
Source: MotorTrend - 🏆 230. / 63 Read more »
Source: PistonHeads - 🏆 553. / 51 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: CARandDRIVER - 🏆 576. / 51 Read more »