{"id":300695,"date":"2024-02-08T17:22:07","date_gmt":"2024-02-08T16:22:07","guid":{"rendered":"https:\/\/climatescience.press\/?p=300695"},"modified":"2024-02-08T17:22:11","modified_gmt":"2024-02-08T16:22:11","slug":"ford-lost-billions-on-evs-in-2023","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=300695","title":{"rendered":"Ford Lost Billions On EVs In 2023"},"content":{"rendered":"\n
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From The Daily Caller<\/a><\/p>\n\n\n

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NICK POPE<\/a><\/p>\n\n\n\n

CONTRIBUTOR<\/p>\n\n\n\n

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Ford F-150 Lightning<\/figcaption><\/figure>\n\n\n\n

Ford lost billions of dollars on its electric vehicle (EV) product lines last year, according to corporate documents.<\/p>\n\n\n\n

The company lost $4.7 billion on EVs in 2023, a greater loss than the $4.5 billion the company\u00a0expected<\/a>\u00a0it would lose in 2023 at mid-year,\u00a0according<\/a>\u00a0to a summary of the company\u2019s annual earnings. The company pointed to \u201can extremely competitive pricing environment\u201d as a key reason for the losses.<\/p>\n\n\n\n

Ford sold 72,608 EVs in 2023, meaning that the company lost nearly $65,000 on each EV that it sold. The company is expecting to lose between $5 billion and $5.5 billion on its EV products in 2024, according to the earnings document.\u00a0(RELATED: Morgan Stanley Throws Cold Water On Biden\u2019s Lofty EV Targets)<\/a><\/strong><\/p>\n\n\n\n

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FRIENDS IN HIGH PLACEShttps:\/\/t.co\/cda9hRe4yS<\/a><\/p>— Daily Caller (@DailyCaller) January 31, 2024<\/a><\/blockquote>