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Ford doubles down on EVs despite heavy losses in Q1

(Credit: Jim Farley)

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Ford is doubling down on electric vehicles (EVs) despite the fact that its Model e unit reported heavy losses in the first quarter.

Ford’s EV unit, called the Model e, reported plunged revenues of up to 84% to nearly $100 million in the first quarters. The legacy automaker attributed most of its revenue pound to EV price cuts. The Model e unit reported $1.3 billion in losses, before interest and taxes (EBIT) were accounted. Ford Model e sold approximately 10,000 units, meaning it lost $132,000 on each EV sold. 

Ford, like many other EV automakers, is living through a slowing EV market. Tesla has acknowledged some pressure in EV market. Despite the slowdown in EVs, however, Ford and Tesla are doubling down on electric vehicles. 

“As we all have seen, the EV adoption rate globally is under pressure and a lot of other order manufacturers are pulling back on EVs and pursuing plug-in hybrids instead. We believe this is not the right strategy and electric vehicles will ultimately dominate the market,” said Tesla CEO Elon Musk during the Q1 2024 earning call.

During Ford’s Q1 2024 earnings call CEO Jim Farley confirmed that the company is developing new affordable electric vehicles. According to rumors, Ford is working on an affordable electric truck, compact SUV, and even a ride-hailing vehicle. 

Affordability is the key word in automaker’s mouths recently, especially when it comes to electric vehicles. Ford aims to price its next EV around $25,000 to $30,000. The legacy automaker wants to launch the new EV by late 2026. Based on the upcoming Ford EVs details, it would probably go up against Tesla’s $25,000 EV.

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“Increasingly, our bet will be on our new small affordable platform developed by our team on the West Coast,” said Farley. “The more affordable we can make a great product, the more attractive it is to these mainstream EV adopters.”

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Maria--aka "M"-- is an experienced writer and book editor. She's written about several topics including health, tech, and politics. As a book editor, she's worked with authors who write Sci-Fi, Romance, and Dark Fantasy. M loves hearing from TESLARATI readers. If you have any tips or article ideas, contact her at maria@teslarati.com or via X, @Writer_01001101.

Elon Musk

Tesla confirms rollout of critical feature, but Cybertruck misses out

Tesla’s S3XY lineup will get the Adaptive Headlights, but Cybertruck will not.

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Credit: @jojje167 on X

Tesla has confirmed the rollout of a new, critical feature that is coming to the United States for the first time.

However, the Cybertruck will unfortunately miss out on it.

Tesla has a distinct advantage among many automakers as their Over-the-Air updates make their vehicles better over time. While many automakers have the ability to roll out new features through these updates, Tesla has been shown to be one of the companies that can truly make things significantly better with their cars.

A new feature coming to the United States and now rolling out is Adaptive Headlights. This feature will be applied to Model S, Model 3, Model X, and Model Y vehicles with the proper hardware.

Adaptive Headlights are different than your typical auto highbeams in the way that they can dim certain pixels of the bulb to keep visibility for the Tesla driver high, while eliminating glare for those who are in oncoming cars:

For the first time, Tesla is rolling out the feature to these vehicles in the United States. European Tesla owners were able to use the function several months back, but it was pending approval in the U.S.

At first, Tesla VP of Vehicle Engineering, Lars Moravy, said that the Cybertruck would have this feature. However, in late February, he confirmed that he was incorrect and the all-electric pickup will not have the ability to get Adaptive Headlights, as the company could not fit the correct hardware in the Cybertruck’s module:

The feature certainly makes visibility better for everyone on the road and will improve overall safety while eliminating the pesky and annoying feeling of being blinded by high beams.

The Adaptive Headlight feature for Tesla is part of the company’s Spring Update for 2025.

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Elon Musk

Tesla Model 3 wins ‘most economical EV to own’ title in new study

The Tesla Model 3 has captured another crown in a recent study showing the most cost-effective EVs

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tesla model 3 driving on a wet road
(Credit: Tesla)

The Tesla Model 3 recently captured the title of “most economical electric vehicle to own” in a new study performed by research firm Zutobi.

Perhaps one of the biggest and most popular reasons people are switching to EVs is the cost savings. Combining home charging, lower maintenance costs, and tax credits has all enabled consumers to consider EVs as a way to save money on their daily drivers. However, there are some EVs that are more efficient and cost-effective than others.

Tesla police fleet saves nearly half a million in upkeep and repair costs

Zutobi‘s new study shows that EV cost-effectiveness comes at different levels. For example, some cars are simply better than others on a cost-per-mile basis. The study used a simple process to determine which EVs are more cost-effective than others by showing how much it would cost to drive 100 miles.

National averages for energy rates have been used to calculate the cost as they widely vary from state to state.

The Rear-Wheel Drive Tesla Model 3 was listed as the most economical vehicle in the study:

“The standard Tesla Model 3 is the most economical electric vehicle to drive in 2025. With a usable battery capacity of 57.5 kWh and a real-world range of 260 miles, it costs just $3.60 to drive 100 miles. That translates to an impressive 2,781 miles per $100 of electricity—making it the most efficient choice for EV owners nationwide.”

It had an estimated cost of just $3.60 to drive 100 miles.

The Tesla Model 3 Long Range All-Wheel Drive was second, the study showed:

“Next is the Long Range version of the Model 3, which offers extended range and dual-motor all-wheel drive. With a larger 75 kWh battery and 325 miles of range, the cost to drive 100 miles is slightly higher at $3.75, still equating to a strong 2,665 miles per $100.”

This version of the Model 3 had a price of just $3.75 to drive 100 miles.

In third, the BMW i4 eDrive35 surprised us with a cost of just $4.12 to drive 100 miles:

“Rounding out the top three is the BMW i4 eDrive35, with a 67.1 kWh battery and a real-world range of 265 miles. Drivers can expect to pay $4.12 per 100 miles, which still allows for 2,429 miles per $100—a solid choice for those seeking luxury and efficiency.”

Several other Teslas made the list as well. The Model 3 Performance ($4.34 per 100 miles) was sixth and tied with the Volkswagen ID.3 Pure, the Tesla Model S Long Range ($4.35 per 100 miles) was 8th, and the Tesla Model Y Long Range was ninth ($4.36 per 100 miles).

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Elon Musk

Tesla offers new discounts on Cybertruck inventory

Tesla is knocking up to $10,550 off of Cybertruck units in inventory

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Credit: Tesla

Tesla is offering new discounts on Cybertruck units in inventory, giving customers a chance to snag a unit of the all-electric pickup for a slight reduction in price. Some are even coming with additional perks to make the offer even sweeter.

Tesla is now offering up to $10,550 off of Cybertruck inventory units across the United States. This is up from previous discounts of $6,000 on inventory Cybertrucks, and it will apply to 2024 model year vehicles.

Non-Foundation Series Cybertrucks are getting up to $10,550 off of their original prices, while Foundation Series pickups are getting up to $10,000 off. These are great deals and should help clear out some inventory from last year’s models.

Additionally, Foundation Series Cybertrucks purchased will receive free lifetime Supercharging, another great addition to make the deal even better than the $10,000 off.

The move comes as Tesla is still ramping Cybertruck production and is hoping to stimulate some additional demand for the vehicle, as it is holding on to these units. These are not Demo Drive units that have been driven by any number of people who were looking for a quick test drive.

Tesla launched a new configuration of the Cybertruck just last week with the Long Range Rear-Wheel-Drive, which undercuts the All-Wheel-Drive option by roughly $10,000.

Tesla released the Cybertruck RWD to make the AWD look like a deal

However, Tesla stripped the vehicle of several features, including Air Suspension, a tonneau cover, and interior features. For example, the Rear-Wheel-Drive trim of the Cybertruck has textile seats and no rear touchscreen, two things that come standard in the other trim levels.

The Cybertruck is the best-selling electric pickup in the United States, outperforming formidable competitors like the Ford F-150 Lightning and Chevrolet Silverado EV. However, Tesla is still working to get the vehicle to a lower price point that makes it more accessible to consumers, as its current pricing is a far cry from what was intended.

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