Hyperdrive
Ford Sees Electric-Vehicle Losses Growing to $3 Billion in 2023
- The deficit matches Ford’s EV losses over the past two years
- Automaker is spending heavily on new models and factories
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Ford Motor Co. predicts losses in its electric vehicle business will grow to $3 billion this year as it spends big on new models and factories. The deficit matches its accumulated EV losses over the past two years.
The automaker issued guidance Thursday on its EV unit as well as performance for its traditional internal-combustion-engine and commercial operations as it moves to begin reporting financial results by business unit, rather than region. The company is keeping its profit forecast for the current year unchanged.