G.M.’s Electric Vehicle Sales Surge as Ford Loses Billions

Published On Oct 29, 2024, 11:49 AM

Ford, which previously led in the electric vehicle market with models like the Mustang Mach-E and F-150 Lightning, is facing challenges as it reports significant losses in its EV division—$1.2 billion for the recent quarter and a total of $3.7 billion for the year. In contrast, General Motors (G.M.) is gaining traction, with increasing sales of its electric vehicles as it begins to benefit from its investments in standardized batteries and new factories. Despite a rise in overall revenue, Ford's profits have dropped due to costs related to electric vehicle production and warranty issues.