How long before Ford turns a profit in EVs?

Ford lost around US$2.1bn on its electric vehicle (EV) business in 2022, more than double the US$900m loss incurred by the new business area in 2021. It expects its EV losses to worsen again in 2023, to US$3bn. Fortunately its internal combustion engine (ICE) vehicle business remains in a rude state of financial health, especially in North America, generating around US$10bn in profits. Although Ford is taking every opportunity to benefit from US or European government loans or grants to fund its EV transition, its existing businesses’ profitability clearly underpins this transition.

Source link

About The Author

Scroll to Top