Ford warns of $3B loss on electric vehicle business for 2023

Ford expects its first generation of EVs, including the F150 Lightning and Mustang Mach E, above, to be profitable on a pretax basis by the end of 2024.Chief Financial Officer John Lawler said Ford no longer will break out financial results by region, only by business unit, because “that’s how we’re running the company now.

Last year, Ford had a pretax loss of $600 million in China, broke even in Europe and posted a modest $400 million profit in South America, with most of its earnings before interest and taxes — $9.2 billion — coming from North America. The company expects its Ford Pro commercial vehicle business to nearly double pretax profit this year to $6 billion, while the traditional Ford Blue business should see a modest increase to $7 billion.He said the automaker will have the global capacity to build 600,000 electric vehicles by the end of 2023 and 2 million by late 2026 — “and we intend to fully use that capacity.”

Ford no longer will break out financial results by region, only by business unit. Above, the F150 Lightning.Lawler said continued improvements in the cost of Ford’s future EVs could be offset by pricing pressure from competitors.by producing more of the components itself and by introducing new chemistries in addition to iron phosphate and nickel cobalt.

This may be a great opportunity for someone like Elon to start making gas powered vehicles people want to buy! Tesla Petro? Imagine a Governor with peanuts big enough to exercise 10th amend. Rights? Pound sand EPA, we decide what our Cafe standards should be!

probably that 90 mile range limit under load on that electric truck

Ripping off the Mustang to create a poorly designed Mach E style has consequenses. Design students could have easily done better.

Lmao

Shocker.

Have you driven a ford lately ?

They seem like such a winner tho 😉. Along w trans m&m’s.

good.

😂😂😂

This is just the start of one of the biggest business blunders by an entire industry that we will see in our lifetimes.

😂

Go woke, get broke

Because electric cars suck

No bail outs

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Ford Projects $3 Billion Loss on EV Business for 2023Ford's expected loss on its electric-vehicle business shows how far traditional auto makers have to go in turning their EV portfolios profitable Gosh. Who could have predicted? Go woke go broke but all the Elon haters swore they'd buy electric from competing companies! elonmusk
Source: WSJ - 🏆 98. / 63 Read more »