Ford’s electric future is being paid for by giant, gas-guzzling trucks and SUVs.
That fact came into stark relief this week during the company’s second quarter earnings report, in which the Blue Oval reported losing $1.1 billion before interest and taxes on its EV business, more than twice as much it lost over the same period last year.
Compare that to Ford’s profits in the sale of gas and hybrid trucks and SUVs: $2.3 billion before interest and taxes. Commercial vehicle sales also posted a healthy profit of $2.4 billion for the quarter.
It’s been over a year since Ford split its business into two separate entities — one focused on electric vehicles called Ford Model e, and the…