EV euphoria is dead. Automakers are scaling back or delaying their electric vehicle plans
Automakers from Ford Motor and General Motors to Mercedes-Benz, Volkswagen, Jaguar Land Rover and Aston Martin are scaling back or delaying their electric vehicle plans.
Ford Lost Another $1.2 Billion in 3Q On EVs
FoMoCo lost $58,391 for every EV it sold during the quarter.
Oct 29, 2024
The ugly EV news from Ford Motor Company just keeps coming. This afternoon, the company reported that it lost $1.224 billion in its EV business during the third quarter. In early October, the company reported EV sales “were up 14.8 percent on best-ever sales of 20,962 vehicles.” Thus, simple division shows that the storied automaker lost $58,391 for each EV it sold during the quarter.
E25 Price at posting:
29.0¢ Sentiment: Hold Disclosure: Held
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