Ford suffers big losses due to electric vehicles

The American concern is actively developing its division for the development of electric cars, investing hundreds of millions of dollars in this area. Unfortunately, the project is still far from paying off, which means that so far only losses are being recorded

Actually, Ford itself is talking about them – in 2023, losses from the activities of its electric vehicle division Ford Model e will increase almost one and a half times — from 2.1 to 3 billion US dollars. The company explains this forecast by increasing investment in the production and development of next-generation models.

Ford's chief financial officer, John Lower, does not see anything critical in this situation. The top manager calls Ford Model e is a startup, and startups always lose money at the beginning of their existence.