Ford Resets EV Strategy To Cut Losses In Segment

Ford is America's number two electric vehicle brand behind Tesla. But getting there hasn't been easy.

 

Over the past few years of F-150 Lightning and Mustang Mach-E sales, Ford has sunk billions into models that aren't proving to be profitable, all while it deals with an uneven electric market, a boosted in interest in hybrids, intensifying competition and a rising China.

 

As a result, the Dearborn automaker today announced some major changes to its EV and hybrid plan, and that includes 10% less capital spending on purely electric models overall.