Electric Vehicles Bleeding Red Ink: Ford Is Losing Billions on EVs

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Electric Vehicles Bleeding Red Ink: Ford Is Losing Billions on EVs
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Ford Motor Company says its electric vehicle (EV) unit, “Ford Model e,” is losing billions of dollars, and should be viewed as a startup company.

that the vehicle’s “kryptonite” is a road trip. Auto critic Henry Payne explained that the electric truck got him “170 miles of range” on a trip up interstate 75 in Michigan, while its gasoline-powered counterpart gets drivers “600 miles and 22 mpg.”

The auto critic explained that he had charged the vehicle overnight to 100 percent, giving it a 320-mile range. He then ran a few errands the following morning, and started his road trip with 281 miles on hand. But by the time he got to Saginaw, “the Lightning was getting just 60% of estimated range and it was becoming clear to the trip computer that we would not make it to Gaylord,” Payne said, adding that the “281-mile range looked more like 168 miles.”

The system then rerouted Payne to a charging station, but when he arrived, the only two chargers there were already occupied. So he drove to another facility that he knew had four charging stations. When he got there, unfortunately, two were occupied and the other two were being worked on by technicians.

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