Ford Announces $4.5 Billion Loss On Electric Vehicles This Year

The Ford Motor Company has announced that they are projected to lose $4.5 billion on electric vehicles this year, despite their revenue growing.

Ford currently has the bestselling electric pick-up truck on the market, with the F-150 Lightning.

Just a few months ago, President Joe Biden invited all the biggest car manufacturers to the White House for a meeting about electric vehicles.

During this meeting, Joe Biden said that he hopes that 50% of all car sales by 2030 are electric. This is a very ambitious goal considering that most electric vehicles still cost more than a non-electric car, and with car prices on the rise, we still don’t know how these electric vehicle prices will compare to gas vehicle prices.

“As the company with the most autoworkers in the U.S., we talk deeply about their [government] vision and our vision for EVs,” the CEO of Ford expressed.

 “We think EVs could be 30, 40, 50% of our business. We just don’t actually know,”.