“We're on track this year towards a contribution margin approaching breakeven in Model e and for our first-generation products to be EBIT margin positive by the end of next year.”

In context

“ated Ranger Raptor. That will be followed by an all-new Mustang and high-performance Dark Horse Mustang this summer. While I can't get into the details yet, we have more exciting news to share about two of America's best-selling vehicles, the F-150 and the Explorer later this year. And on top of all that, we have the Lincoln Corsair arriving at dealerships now. And of course, we just revealed the Lincoln Nautilus. Now, Ford Model e operates with a start-up intensity to build a profitable EV business with a differentiated portfolio and a differentiated customer experience. US investors now have true visibility into how Ford Model e's profitability strengthens over time, supported by volume-driven operating leverage, improvements in design and efficiency and, of course, lower battery costs. We're on track this year towards a contribution margin approaching breakeven in Model e and for our first-generation products to be EBIT margin positive by the end of next year. Wholesales were down in the quarter, which deleveraged our cost structure. Part of the decline was planned, as we have brought Mustang Mach-E production down for several weeks, so we could almost double the capacity, and we are now hitting that 35 jump per hour run rate in the plant. Volumes were also impacted by the lower output of F-150 Lightning. We did the right thing, and I congratulate my team many times by immediately stopping production and working with our battery supplier finding and then fixing the root cause of the fire that happened on the Ford property. We're now shipping Lightnings, again, taking new orders and increasing production to an annual run rate of 150,000 units, about double what we do now. We are also revealing -- we revealed an all-electric Explorer in Europe, w”