EV Fiasco: Ford Lost $5.1 Billion on Electric Vehicles in 2024
Farley stated that in an effort to compete during the incoming price war, Ford is ready to cut distribution costs and advertising
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.
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. ---More...
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