Wall Street Journal: Ford Motor Co. expects to lose about $3 billion on its electric-vehicle business this year, a reminder of how far traditional auto makers have to go in turning their EV portfolios profitable. Ford disclosed the figure Thursday while outlining a new financial-reporting structure intended to give investors better insight into the performance of its three business units. Ford finance chief John Lawler described the EV division as a startup inside the 119-year-old company, and said it is normal for a fledgling business to rack up losses. Ford shares were down about 1.3% in afternoon trading Thursday (Wall Street Journal).
Daily Wire: Ford plans to explain its financials in more detail to investors and how it will stick to its goal of selling only zero-carbon emission vehicles by 2040. Ford is relying on Ford Blue, its gas-powered vehicle production, to fund the carmaker’s transition to EVs (Daily Wire).
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