EV is not bright! Ford cuts battery orders Maximum loss offering: 1 dollars/sale of 1 EV.
Ford cuts battery orders Jehovah expects losses of up to $1/1 EV sold, with EV losses forecast to reach $5.5 billion in 2567
On May 1, 2567, Bloomberg News, citing sources, reported that Ford Motor Co. had begun reducing orders from battery suppliers to halt increasing losses on electric vehicles, as the company limited its ambitions in a rapidly slowing market.
Ford continues to maintain partnerships with battery suppliers. These include South Korea's SK On Co. and LG Energy Solution Ltd., as well as China's Contemporary Amperex Technology Co. Ltd.
The move is part of Ford's abandonment of its EV strategy, which includes cutting $1.2 billion in spending on battery-powered models. Delaying production of new EVs, reducing prices, and postponing and downsizing planned battery production plants, Ford forecasts electric vehicle losses of up to $5.5 billion in 2567.
A Ford spokesperson said the company does not normally comment on relationships or conditions with suppliers CATL, saying the partnership with Ford is moving forward as normal. Without giving further details, SK On and LG said their contracts with Ford remained in effect. But there was no immediate mention of changes to the order.
As electric vehicle prices fell and demand for them plummeted, Ford lost more than $100,000 per electric vehicle sold in the first quarter, more than double the deficit from a year ago.
Reference: bloomberg.com
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