Ford Motor's second quarter financial report released, electric vehicle business suffered heavy losses

Ford Motor released its second-quarter financial report, showing that its electric vehicle business suffered a substantial loss, with a pre-tax loss of $1.1 billion in the second quarter. Although Ford's overall revenue in the second quarter increased by 6.2% year-on-year, its electric vehicle sales fell by 23%. It is expected that by the end of the year, the loss of the electric vehicle business will increase to about $5.5 billion.