How’s this for a business model? The more EVs Ford produces, the more money they lose.

One of our favorite energy analysts, Robert Bryce, posted this shocker earlier this week:

According to Bryce: “Ford’s electric vehicle business is gaining speed on the highway to hell… During the first quarter, the company made a $1.3 billion profit on $43 billion in revenue. However, it took an operating loss of $1.32 billion on its Model E business. Ford sold 20,223 EVs during the quarter, meaning it lost $65,272 for each EV. That’s a slight increase over the operating loss of $64,731 (also known as EBIT, or earnings before interest and taxes) for each EV it sold during all of 2023.”

Last year, Ford lost $4.7 billion on EVs.

Ahh, but don’t worry: profitability is just around the next street corner.

We’ll say it again: this is what happens when companies start chasing federal subsidies and produce for politicians, not customers.