In a recent financial update, Ford presented a significant shift in the automotive industry, with a clear focus on the future of electric vehicles. This transition has captured the world's attention towards the electric car market and the major transformation it is undergoing.

In this context, Ford has revealed substantial losses incurred in its electric vehicle division during the third quarter of the current year. These losses amounted to 1.3 billion dollars, marking a significant increase compared to the company's performance in the previous year. This means that each electric vehicle manufactured by Ford is incurring a loss of approximately $36,000.

Despite a 42.5% increase in electric vehicle sales during the third quarter of the year, the heavy losses raise significant questions about Ford's future in this sector. It is expected that the company's total losses in this division will reach $4.5 billion in 2023.

These losses can be attributed, in part, to the massive and costly investments that Ford is making in the development of electric vehicle technology. They are also a result of intense competition in the electric vehicle market, with Tesla engaging in a price war by offering substantial discounts this year.

To confront these challenges, Ford has decided to reduce its investments in the electric vehicle sector by $12 billion. The company also plans to cut production of the "Mustang Mach-E" and the "F-150 Lightning" electric truck.

Major automobile manufacturers, including Ford and General Motors, acknowledge that the demand for electric vehicles has not met their expectations thus far, especially in North America. This admission compels them to face significant challenges in adapting to the rapidly changing automotive industry and finding solutions to escalating costs and losses.