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Ford Just Reported a Massive Loss on Every Electric Vehicle It Sold

Ford's electric vehicle unit reported that losses soared in the first quarter to $1.3 billion, or $132,000 for each of the 10,000 vehicles it sold in the first three months of the year, helping to drag down earnings for the company overall. From a report: Ford, like most automakers, has announced pl...

From a report: Ford, like most automakers, has announced plans to shift from traditional gas-powered vehicles to EVs in coming years. And the results it reported Wednesday show another sign of the profit pressures on the EV business at Ford and other automakers. A price war among EVs for about a year and a half has made profitability very difficult said Ford CFO John Lawler.

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