Ford lost a billion dollars on its EV unit last quarter.
“The company loses money on every Ford Lightning it sells — and that was before it knocked thousands of dollars off the sticker price this summer, trying to keep up with a Tesla-triggered price war that's pulling EV prices down.”
Recent npr piece.
Bringing something to market at a big loss is not an advancement unless you have certainty that you can bring the project into the black. Ford has no such certainty. Moreover when there is rapid technological change, every product must be at least break even because product life is so short. “Ford F150” will persist as the name of a branded product, but the components inside will change much more rapidly than legacy automakers are used to.