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3 May, 2023

Musk: Ford’s EV strategy is ‘smart’

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Musk calls Ford’s electric vehicle strategy “smart” despite continuing reports of losses from its EVs. Ford’s financials show its electric vehicle business to be generating 40% negative margins for the first time since separating its EV (Model e) business unit. Tesla leads the industry in EV margins, selling its vehicles at a 15-25% gross margin and ~10% net operating margin. Musk:

Always tough with margins for new vehicle lines, especially when there are major technology shifts. I think Ford’s overall strategy with EVs is smart. The electric F-150 (Lightning) has high demand.

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