New Report Shows Ford’s Electric Vehicle Efforts Are Costing the Company an Unthinkable Amount of Profit
The Ford Motor Company, once at the forefront of automotive innovation, might have finally met its match in the artificial push for electric vehicles.
According to a recent report in the Wall Street Journal, Ford’s efforts to transition to all or mostly electric vehicle production is bringing their profits down almost a full 50 percent.
The Journal’s report began optimistically enough, citing that Ford’s stock was up 3 percent Wednesday on the news that Ford’s expected adjusted operating profit would hit $11 billion this year — well over the $9.6 billion that analysts had predicted.
Despite this initial good news, the Journal went on to detail the company’s woes when it comes to its EV production,
