Ford, the American automaker, has decided to limit investment in electric vehicles in order to minimize financial losses after analyzing the market and evaluating competitors.
Lately, Ford has postponed investments worth about $12 billion (294 trillion VND) related to electric vehicles and stopped the construction of an electric vehicle battery factory in Marshall, Michigan, USA.
The company is currently focusing on developing the Blue Oval City project in Tennessee.
From the beginning of the year until now, the American automaker has been experiencing losses of nearly $4 billion (92 trillion VND) in electric vehicle production. The company relies on revenue from the internal combustion engine and hybrid business to offset these losses.
Unlike other car manufacturers, Ford is not ready to say goodbye to internal combustion engine vehicles yet, as the profits from this line of vehicles are helping to alleviate the pressure on the company’s electric vehicle division.
Ford sees electric vehicle production as a long-term strategy, requiring many years for development.
Previously, Ford had set a target to make electric vehicles as profitable as internal combustion engine vehicles by 2026. However, the company is currently putting in its best effort to achieve this goal.
In the near future, Ford plans to research and develop simple, easy-to-produce, and more affordable chemical batteries. This will help reduce production costs and increase competitiveness against competitors.
Additionally, a Ford executive disclosed that the company will soon introduce a new all-electric pickup truck model, which promises to have many exciting features.
TH (Tuoitrethudo)
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