closed down 12.3% on Friday, after the automaker reported a wider loss from its electric-vehicle business due to pressures from a price war, sparked by industry leader Tesla
Ford cautioned about ongoing challenges in its EV business and said it was cutting production of its Mustang Mach-E while scaling back about $12 billion in investments in the segment, including delaying its second battery plant in Kentucky. The company's quarterly report added to the gloom around the EV market, which has seen inflation-wary consumers pull back on some purchases.
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