Ford Cuts Battery Orders as EV Losses Top $100,000 Per Car [Financial Post (Toronto, Ontario, Canada)]
Ford Motor Company (F)
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Source: Financial Post
matter, as it throttles back ambitions in a rapidly decelerating market for plug-in models. Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Ford Motor Co. has begun cutting orders from battery suppliers to stem growing electric-vehicle losses, according to people familiar with the matter, as it throttles back ambitions in a rapidly decelerating market for plug-in models. Ford continues to maintain partnerships with its battery suppliers, which include South Korea's SK On Co. and LG Energy Solution Ltd., as well as China's Contemporary Amperex Technology Co. Ltd., said the people, who asked not to be identified revealing internal decisions. Article content Article content The move is part a retrenchment of Ford's EV strategy, which includes reducing spending by $12 billion on battery-powered models, delaying new EVs, cutting prices, and postponing and shrinking planned battery plants. Ford ha
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