- Ford’s Model e EV division reported net revenue of approximately $100 million in the first quarter.
- But after expenses, the Blue Oval’s EV division lost $1.3 billion in the quarter.
- Ford said the significant decline in revenue compared to the first quarter of 2023 was primarily due to profit-cutting price cuts.
Ford reported first-quarter 2024 net income of $1.3 billion.
Source: Car and Driver