Automotive News: Ford takes another huge loss on EVs

Ford Motor on Wednesday reported a disappointing second quarter, missing earnings expectations by a wide margin as higher warranty costs and huge losses on EVs ate into profits.

Their traditional business operations, known as Ford Blue, earned $1.17 billion during the second quarter.

Its Pro commercial business earned $2.56 billion.

Its “Model e” electric vehicle unit lost $1.14 billion from April through June.

They bought into the Green New Scam idea and, like all other EV manufacturers, is now losing their shirt because of it.

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