Ford Slashes EV Battery Orders Amid Soaring Losses

Ford faces over $100,000 loss per electric vehicle in Q1 2024, prompting a strategic pullback on battery orders and delays in EV projects.

Ford reported a staggering loss of over $100,000 per electric vehicle in the first quarter of 2024, doubling the loss from the previous year.
In response to escalating losses, Ford has cut back on battery orders and delayed several EV initiatives, including production of new models.
Despite the cutbacks, Ford maintains active partnerships with major battery suppliers like SK, LG Energy Solution, and CATL.
Ford's future plans include the introduction of smaller, more affordable EVs priced around $25,000, aiming for profitability.
The company is also increasing its focus on hybrid vehicles as a transitional strategy towards more advanced next-gen EVs.