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Despite anchoring its hopes on potentially collaborating with Tesla, Ford has been suffering significant losses in its EV division. In the fourth quarter of 2024 alone, Ford reported losses averaging $37,000 for each electric vehicle sold, reflecting a broader struggle to compete with Tesla's pricing and manufacturing efficiency.
The challenges are compounded by Ford's announcement that the production target for its next-generation F-150 electric truck has been significantly reduced. Originally aimed at 300,000 units annually, the target has been slashed to less than 100,000. This raises questions about Ford’s ability to compete effectively in the EV market, especially with the demand for electric vehicles on the rise.