Ford Expects Model e EV Unit To Post $3 Billion Loss This Year via insideevs.com
Ford Motor Company expects its electric vehicle business to lose $3 billion this year while forecasting increased profits for its internal combustion and commercial vehicle units.will increase nearly 50 percent in 2023 from $2.1 billion last year as investments in boosting production and developing next-generation products on a dedicated EV platform continue.
At the same time, Ford expects $7 billion in earnings before interest and taxes for Ford Blue, its internal combustion business unit, and about $6 billion for its. In 2022, Ford Blue and Ford Pro made $6.8 billion and $3.2 billion, respectively. The numbers confirm what analysts and investors were assuming, namely that Ford's traditional gasoline-powered vehicle business has driven profits and helped fund investments in EVs and other mobility ventures.
This marks the first time Ford has publicly posted results for each of the three units that were created in 2022 as part of a companywide reorganization, instead of reporting financial results for geographical regions as before.Automotive NewsIn a call with reporters, he also said that near-term EV losses are to be expected from Model e, which operates as a startup."Ford Model e is an EV startup within Ford.
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