Ford leapt to an early lead in the U.S. electric vehicle market but is now facing substantial losses as competition heats up, particularly from G.M.
Despite a rise in revenue, Ford reported a significant loss in its electric vehicle division, indicating challenges with their strategic investments and costs.
John Lawler, Ford’s CFO, acknowledged that while revenue increased for the tenth consecutive quarter, the overall profit declined due to issues with electric vehicles.
Ford's substantial investments in electric vehicles are not translating into profitability, as seen by the billions of dollars lost in the past year.
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