In the first six months of 2024 alone, Ford has lost the equivalent of 17 billion Danish kroner on building electric cars. The second quarter was also bloody.
If there's one thing Ford can't make money on right now, it's electric cars. In fact, the money flows out of the company account. This has resulted in a loss of a whopping DKK 17 billion.
And that's just in the first six months of 2024. This is shown by Ford's own accounts for the second quarter of 2024. Both revenue and sales, which have fallen by 23 percent, are bloody in the second quarter.
During the presentation of the accounts this week, the Ford management defended itself by saying that the gigantic losses are primarily due to two things – a lower number of cars sold and then the price war that is currently in the market for electric cars.
Ford also expects the electric car division, Model e, to present an equally large deficit when the next half of 2024 is over.
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The car brand's managing director, who will have, among other things, the Americans to unconditionally support the electric car, however, believe they can see light at the end of the tunnel. In fact, he believes he has the recipe for how Ford gets rid of the messy numbers.
This, he says, must be done through the development of new platforms on which smaller and cheaper electric cars can be built. Ford believes that this is what their customers want.
For now, Ford is borrowing from Volkswagen when it comes to electric cars. Both the new electric Explorer and the revived Capri name are nothing more than Volkswagen ID.4 cars with different headlights.
– We have taken a completely different approach to the task and created a different product at a different price with a much smaller battery with a different chemistry, Farley said of the project with the new platform during an investor fashion this winter.
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