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Ford Continues to Cut Electric Vehicle Sales Amid Demand Uncertainty
Ford Continues to Cut Electric Vehicle Sales Amid Demand Uncertainty
Updated October 26, 2023 at 7:15 p.m. ET
Ford engine posted third-quarter net income of $1.2 billion, following a loss the year before, but it withdrew its guidance for the year, citing the impact of the United Auto Workers strike .
The company also announced plans to invest $12 billion in electric vehicles, reiterating concerns about consumer demand and pricing pressure from competitors. It plans to delay construction of a second battery factory in the United States, a facility in Kentucky that is a joint venture with Korean battery maker SK On.
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