Ford expects $3 billion loss on electric car business in 2023
3/23/23
from The Washington Post,
3/23/23:
Ford’s electric vehicle business lost $2.1 billion in 2022 and has projected $3 billion in losses for 2023, according to a new financial reporting structure unveiled Thursday morning. It was the first financial report in which the automaker broke out its electric vehicle business from its broader business. Ford has been investing in hybrid and electric vehicles, including the Mustang Mach-E and an all-electric F-150 pickup truck, and announced last year that it would boost electric vehicle spending to $50 billion through 2026.
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