Ford revealed its financial results with significant losses in the electric vehicle sector. Elon Musk, a key player in the entire development of the auto market, believes that despite the losses, Ford has a smart strategy.

Elon Musk had some encouraging words for Ford after the company came back to report major losses related to its electric cars.  The truth is, this is a semi-transversal reality for most companies going through an entire transition phase imposed by the market and governments.
Most of these companies sell EVs at a loss or at a slightly positive margin and offset their gas-powered vehicle business until such time as they can grow and improve margins.
Tesla, led by a billionaire, is largely responsible for the complete paradigm shift in the automotive sector, and today it can also boast of the profits it makes from its electric cars.  Currently, Tesla cars are sold with a gross margin of 15-25% and a net operating margin of about 10%.
For the first time since spinning off its electric vehicle (Model e) business unit, Ford has detailed the financials behind its electric vehicle programs and confirmed that its electric vehicle business generates negative profit margins of 40%.

On Twitter, Meet Kevin released some of these financial results from Ford to congratulate Elon Musk and the team.  In response, Elon Musk talked about the difficulties in launching a new line of vehicles, "especially when there are major changes in technology."  He also said that he thinks that overall "Ford's strategy with EVs is smart."