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Ford loses billions on electric cars – cuts battery orders

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Dollars are flowing out of the coffers of Ford’s electric car division at a breakneck pace. Photo: Gene J. Puskar / AP / NTB

Of NTB | 12.05.2024 05:04:01

Economy and business: The company lost 4.7 billion dollars on electric cars last year and has estimated a loss of between 5 and 5.5 billion dollars this year, corresponding to up to 60 billion kroner.

In the first quarter, the loss per electric car was over USD 100,000, equivalent to NOK 1.1 million, according to an employee the newspaper have the interview.

Bloomberg estimates that the electric car loss will almost wipe away the company’s entire profit from fossil car earnings.

Ford says it has cut major costs related to electric car production, but it has also had to lower prices to keep up with competitors.

(© NTB)

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