Ford expects$ 3 billion loss on electric auto business in 2023
Ford’s electric vehicle business lost$2.1 billion in 2022 and has projected$ 3 billion in losses for 2023, according to a new fiscal reporting structure unveiled Thursday morning.
It was the first fiscal report in which the automaker broke out its electric vehicle business from its broader business. Ford has been investing in mongrel and electric vehicles, including the Mustang Mach- E and an each- electric F- 150 volley truck, and blazoned last time that it would boost electric vehicle spending to$ 50 billion through 2026.
The results show how the company’s heritage vehicles, including gas- powered options like the F- 150, are seeing gains neutralize by the cost- ferocious work of erecting out the electric vehicle unit, known as “ Ford Modele. ”