Ford is counting on governments mandating their crappy EV’s unlike Toyota who is counting on creating good enough batteries that people will actually want electric cars.
That makes some sense. I don’t understand all the financial calculations, but, if they are losing that much, they would get tax benefits from such losses, such as offsetting those losses against business profits from the sales of other cars and trucks.
Also, there may be some other subsidies which the federal government is giving, or will give, to car companies to induce them to produce electric cars.
Last year, Gavin Newsom decreed that new internal combustion engine vehicles can’t be sold after 2035 in California. Some other states are using the 2035 target as well. Long term, the car companies see the future as being in electric vehicles.
The Japanese are placing their bets on hydrogen, which imo is superior. You can either have a similar car with gas with an internal combustion engine, or you use the hydrogen in a fuel cell and have an electric car. There is this thing called Pink Hydrogen, which means it is made from nuclear power. For a country like Japan, that would decrease their dependence on oil, which they don’t have. As a bonus, refueling is quick like filling up with gasoline.
I doubt you’ll see Toyota do an about face and go all in on electric - battery cars.