Losing that much money on every EV is bad news for Ford, but it’s even worse for General Motors, which postponed the construction of a $4 billion electric vehicle plant in Michigan.
“During Ford’s second-quarter earnings briefing in July, Chief Executive Officer Jim Farley said the company would slow the ramp-up of money-losing EVs, shifting investment to Ford’s commercial vehicle unit and citing plans to quadruple sales of gas-electric hybrids over the next five years.”
