Ford's EV Strategy Falters, Quarterly Loss Reported
TL;DR Summary
Ford announced during its Q4 2023 earnings call that it is rethinking its EV strategy and reassessing its EV battery strategy due to significant losses in its EV division, Model e. The company is adjusting installed capacity, scrutinizing spending, and delaying the rollout of its second generation of EVs in response to market dynamics and the challenge of making EVs profitable. Despite the setbacks, Ford remains committed to EVs and expects growth in its Model e business in 2024, while also pinning short-term hopes on the growth of hybrid electric vehicles.
- Ford pulls the plug on EV strategy as losses pile up The Register
- Ford Could Get 50% More Profit Without EVs The Wall Street Journal
- Ford’s ‘hidden gem’ earns praise as a ‘standout’ in automotive industry MarketWatch
- Tesla Stock Is Down Again. Downgrades and Rates Aren’t Helping. Barron's
- Ford Reports Quarterly Loss but Says Sales Grew The New York Times
Reading Insights
Total Reads
0
Unique Readers
1
Time Saved
3 min
vs 4 min read
Condensed
86%
654 → 91 words
Want the full story? Read the original article
Read on The Register