Ford has reported substantial losses on every electric vehicle (EV) it produced in the third quarter of 2023, surpassing its previous forecasts. During Q3 2023, Ford’s electric car division recorded a pre-interest and tax loss of $1.3 billion, accumulating a total year-to-date deficit of $3.1 billion. As a response to these losses, Ford has decided to withdraw its investment from the electric car division. Moving forward, Ford aims to offer customers a diverse range of products while expanding its portfolio of electric models. Overall, Ford’s significant losses on EVs in Q3 2023 have prompted the company to reevaluate its investment strategy in the electric car division.

Source: Stuff October 30, 2023 16:40 UTC