I think that is pretty typical and also a real risk when you purchase a new car. The first year depreciation can be huge and EV's are certainly no exception, maybe worse. If you lease I think you can buy "gap" insurance but I don't know about cash sales.
On leases in NY by law, GAP insurance is included in every lease. It is "free" but not really: it is built into the monthly lease payment.
I do not know for sure, but I think every state has similar laws requiring GAP insurance in leases.
I have never financed a car, but in my internet search, it seems that the financial arm of the manufacturer, Ford Financial, will, at an extra cost, sell you GAP insurance.
If you buy the car, you are on your own: unless your insurance is for "replacement" it will only pay for the value of the car.
PS: Just read post #7 from MachDrive above: I have insurance with State Farm: as per the article, State Farm does not offer replacement on value. That was the basis of this post.
Apologies for any confusion.