Ford Motor Company reported a $5.1 billion loss in its electric vehicle (EV) and software division, known as Model e, for 2024. The company predicts losses will continue to mount, potentially reaching $5.5 billion in 2025. Despite these setbacks, Ford's traditional gas-powered vehicles performed well, keeping the company profitable overall.
Ford Motor Company has reported a $5.1 billion loss in its electric vehicle and software business for 2024, with expectations of losing even more in 2025.that on Wednesday, Ford Motor Company announced its fourth quarter and full-year earnings for 2024, surpassing Wall Street expectations. However, the automaker also reported substantial losses in its electric vehicle and software division, known as Model e. The company lost $5.
During the earnings call, CEO Jim Farley addressed concerns about potential tariffs threatened by President Donald Trump on imports from Mexico and Canada. Farley stated that while a few weeks of tariffs would be “manageable,” prolonged tariffs would have a “huge impact” on the industry, potentially wiping out billions of dollars in profits and adversely affecting U.S. jobs and the entire value system in the automotive sector.
To address these challenges, Ford plans to introduce a range of powertrains, including battery-electric, plug-in hybrid, and extended-range EVs that use small gas engines to recharge the battery, offering up to 700 miles of range. Farley mentioned that these new models will be built on flexible body-on-frame and unit-body platforms designed specifically for multi-energy powertrains.“So I believe there will be, our industry is definitely heading to a huge price war,” said Farley.
FORD ELECTRIC VEHICLES LOSSES SOFTWARE AUTO INDUSTRY
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