Auto manufacturer Ford has taken more than $4 billion in losses in its electric vehicle (EV) segment, with the company cutting down investments and planning only to launch Gen 2 vehicles when it “can get to a profit.”
While Ford’s Model e, the company’s EV division, saw a 12 percent increase in revenue last year, the department registered a net loss of $4.7 billion, according to the company’s earnings report released on Tuesday.
