The company, in turn, is postponing about $12 billion in EV manufacturing investment.As a result, it's postponing about $12 billion in planned spending on new EV manufacturing capacity.
Customers' reluctance to pay extra for EVs has complicated Ford's ambitious and expensive plans to sharply increase production of those vehicles. While Ford's –Ford executives emphasized that the company isn't cutting back its spending on future electric vehicle models. But it now plans to ramp up its EV manufacturing capacity, and its spending on that capacity, more gradually than previously planned.
Lawler said that Ford will postpone about $12 billion in planned spending on manufacturing capacity for EVs. But, he noted, construction ofThis mom took her 15-year-old son to the ER. A doctor questioned their relationship "The customer is going to decide what the volumes are," Lawler said."Ford is able to balance production of gas, hybrid and electric vehicles to match the speed of EV adoption in a way that others can't.", Ford said on Thursday that its electric-vehicle business unit, called Ford Model e, lost $1.3 billion on an operating basis in the period. That's roughly double its year-ago loss, despite a 26% increase in revenue.
Through the first three quarters of 2023, Model e posted an operating loss of about $3.1 billion, on track with Ford's previous guidance calling for a full-year operating loss of $4.5 billion for the Model e business unit.
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Source: CNBC - 🏆 12. / 72 Read more »