Why British Electric’s British Electric unit lost nearly a third of its value

The UK’s British electric unit has suffered a major loss, as the company reported its first-ever quarterly loss.

The electric vehicle (EV) maker said in a statement that it sold its EV unit to an unnamed buyer for $4.6 billion in a deal that was completed on Friday.

The British electric company said that it is now the sole owner of two of its most valuable EV units: the 1.4-million-volt electric vehicle battery unit and the 500kW power unit, which has been in operation since the 1970s.

The UK’s biggest utility, which owns a total of 5,000kWh of electric power generation capacity, has seen its share prices decline over the past year.

In July, British Electric reported that its unit, the electric vehicle manufacturing unit (EVP), had lost $6.9 billion, making it the largest loss in the company’s history.