Electric vehicles eating away Ford’s overall profit

DEARBORN, MI - MAY 19: The new all-electric Ford F-150 Lightning performance pickup truck is revealed at a livestream event at Ford World Headquarters on May 19, 2021 in Dearborn, Michigan. The truck will be built at the all-new Ford Rouge Electric Vehicle Center in Dearborn starting in the Spring of 2022. Photo by Bill Pugliano/Getty Images)

Revelation 13:16-18 Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.

Important Takeaways:

  • EV Fiasco: Ford Lost $5.1 Billion on Electric Vehicles in 2024
  • The Verge reports 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 (EV) and software division, known as Model e. The company lost $5.1 billion in this segment in 2024, a significant increase from the $4.7 billion lost in the previous year. Furthermore, Ford predicts that losses will continue to mount, potentially reaching $5.5 billion in 2025.
  • Despite these setbacks in the EV business, Ford’s traditional gas-powered vehicles continue to perform well, generating sufficient revenue to keep the company profitable overall. The automaker reported a full-year net income of $5.9 billion and adjusted earnings of $10.2 billion.
  • 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.

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