Ford’s recent shift in strategy highlights the challenges automakers face with electric vehicles (EVs). Despite initial enthusiasm, Ford has encountered significant financial setbacks, losing $44,000 per EV sold and anticipating a $5 billion loss in its EV division this year. As a result, Ford is scaling back its focus on fully electric vehicles, opting to introduce more hybrid models in its lineup, especially in popular categories like SUVs.
While Ford is not abandoning EVs entirely, it is taking a more cautious approach, delaying new models and cutting capital spending on EVs from 40% to 30% of its budget. This pivot reflects broader industry trends, as other automakers like General Motors also reassess their EV strategies amidst slower-than-expected market growth.
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