Ford Scales Down EV Investment as Division Loses $4.7 Billion

Published on February 8, 2024

Auto manufacturer Ford has taken more than $4 billion in losses in its electric vehicle (EV) segment, with the company cutting down investments and planning only to launch Gen 2 vehicles when it “can get to a profit.” While Ford’s Model e, the company’s EV division, saw a 12 percent increase in revenue last year, the department registered a net loss of $4.7 billion, according to the company’s earnings report released on Tuesday. Model e was the only one out of Ford’s three divisions that registered a net loss. The two other divisions—focused on gas and hybrid vehicles as well as commercial customers—saw net income in excess of $14.68 billion. Amid EV losses, Ford has decided to scale down investments in the sector....

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