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Ford just reported a massive loss on every electric vehicle it sold [Yahoo! Finance]

Ecolab Inc. (ECL) 
Last ecolab inc. earnings: 4/28 08:30 am Check Earnings Report
US:NYSE Investor Relations: investor.ecolab.com
Company Research Source: Yahoo! Finance
in the first three months of the year, helping to drag down earnings for the company overall. Ford, like most automakers, has announced plans to shift from traditional gas-powered vehicles to EVs in coming years. But it is the only traditional automaker to break out results of its retail EV sales. And the results it reported Wednesday show another sign of the profit pressures on the EV business at Ford and other automakers. The EV unit, which Ford calls Model e, sold 10,000 vehicles in the quarter, down 20% from the number it sold a year earlier. And its revenue plunged 84% to about $100 million, which Ford attributed mostly to price cuts for EVs across the industry. That resulted in the $1.3 billion loss before interest and taxes (EBIT), and the massive per-vehicle loss in the Model e unit. A price war among EVs for about a year and a half has made profitability very difficult said Ford CFO John Lawler. He said while Ford has removed about $5,000 in cost on each Mustang Mach-E, Show less Read more
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