Ford Competitor Hemorrhages $33K per Electric Vehicle

In the competitive world of electric vehicles, Rivian, once backed by Ford, finds itself facing significant financial challenges. With Rivian now contending with production delays and executive departures, the company grapples with the same dilemma as its competitors: making a profit in the EV market. Recent reports reveal that Rivian suffers a substantial loss of $33,000 on every vehicle sold in a quarter.

Unlike Rivian, Ford anticipated these kinds of setbacks. With its Ford Pro and Ford Blue divisions offsetting losses, Ford’s CEO, Jim Farley, projects EV profitability by 2026. However, achieving cost parity between electric and traditional vehicles may not materialize until 2030.

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