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As Bloomberg found out, the net loss of Ford’s electric vehicle division, Model E, for the first quarter is comparable to the profit received by the automaker as a whole during this period. For each electric car produced, the company lost more than one hundred thousand dollars, which in rubles is about 9.2 million, and this is more than the cost of the models themselves. In total, from January to March the company sold 20 thousand “green” cars.

Today, Ford’s green line is represented in the United States by three models – Mustang Mach E, F150 Lightning and E-Transit. Demand for them is falling, which is why the automaker has already had to reduce production volumes and reconsider its electrification strategy. The project of a large three-row crossover, which was supposed to be “registered” at the Ford plant in Canada in 2025, came under attack – according to the new plan, this will happen no earlier than 2027.

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According to Ford’s forecast, by the end of 2024 the loss of the electric vehicle division will reach $5.5 billion. The company’s CEO Jim Farley called the Model E “the main drag on the entire concern.” Against the backdrop of this statement, information appeared that Ford had reduced the volume of purchases of batteries from all of its counterparties – SK On, LG Energy Solutions and CATL. At the same time, CATL, in a conversation with Bloomberg, said that “cooperation with Ford is developing as usual,” without going into details. SK On and LG, in turn, confirmed to reporters that their contracts with Ford remain in force.

Ford plans to cut costs on electric vehicles by $12 billion and cut prices on existing models to stimulate demand.

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