Ford Loses $1.3 Billion on Electric Vehicles in First Quarter of 2024, Delays Plans to Make More
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Ford is losing boatloads of money on every electric vehicle sold
One of the largest automotive companies in the world lost $1.3 billion in its EV-only business unit known as "Model e" in the first quarter. Ford's EV division sold 10,000 cars during the three-month period of the new fiscal year, which means that the corporation lost $132,000 on every vehicle delivered to customers.Read Entire Article
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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. Ford, like most automakers, has announced plans to shift from traditional gas-powered vehicles to EVs in coming years. But it is the only traditional automaker to break out results of its retail EV sales. And the results it reported Wednesday show another...
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Wright Electric Announces First Steps of Electric Propulsion Testing
ALBANY, N.Y.--(BUSINESS WIRE)-- Wright Electric, a world leader in electric propulsion for large commercial aircraft, today announced the launch of its Wright Electric Aircraft Engine Test Cell (WEAETC). The WEAETC