Did Ford lose billions on EVs?

Could you elaborate on the recent reports suggesting that Ford Motor Company has incurred significant losses in their electric vehicle (EV) investments? Are these losses truly in the billions of dollars, and if so, what are the main factors contributing to this financial setback? Furthermore, has this impacted Ford's overall strategy and plans for the EV market, and what measures are they taking to rectify the situation and ensure future profitability in this burgeoning sector?