Hefty electric vehicle costs dent Ford profits

Hefty electric vehicle costs dent Ford profits …C0NTINUE READING HERE >>>

The results were the latest in which Ford has seen profits from its conventional internal combustion engine and fleet businesses offset losses in electric vehicles.
Photo: JULIEN DE ROSA / AFP
Source: AFP

Ford reported lower profits Monday and reduced its full-year earnings outlook as hefty one-time electric vehicle (EV) expenses weighed on results.

The major US automaker reported third-quarter profits of $892 million, down 26 percent from the year-ago level, on revenues of $46.2…

>