Elon Musk's Take on Ford's EV Strategy and Stock Performance

Elon Musk praised Ford's EV strategy, calling it "smart" despite the automaker reporting significant losses from its electric vehicles. Ford's EV business is currently generating 40% negative margins, while Tesla is selling its vehicles at a 15-25% gross margin and ~10% net operating margin. Ford's electric F-150 (Lightning) has high demand, but the automaker still needs to increase its EV production volumes to break even on its EV business. The next-generation electric pickup truck could be the "make or break" moment for Ford in the EV transition.