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https://arstechnica.com/cars/2023/03/ford-will-lose-3-billion-on-electric-vehicles-in-2023-it-says/
There's no doubt that Ford is embracing electrification. It was first to market with an electric pickup truck for the US market, and a darn good one at that. It has a solid midsize electric crossover that's becoming more and more common on the road, even if it does still upset the occasional Mustangophile. And there's an electric Transit van for the trades. But its electric vehicle division will lose $3 billion this year as it continues to build new factories and buy raw materials.
The news came in a peek into Ford's financials released this morning. As we reported last year, Ford has split its passenger vehicle operations into two divisions. Electric vehicles fall under Ford Model e, with internal combustion engine-powered Fords (including hybrids and plug-in hybrids) falling under Ford Blue. The move was in large part to placate investors and analysts, no doubt starry-eyed during a time when any EV-related stock was booming.
Related:
Tesla Exceeded Revenue Estimates in Q4 2021 by More than $1 Billion (20220127)
Tesla Burns More Cash, Fails to Meet Production Targets (20171102)
Ford Investing $4.5 Billion to Bring Electrification to 40% of Its Vehicles by 2020 (20151214)
(Score: 5, Touché) by Rosco P. Coltrane on Saturday March 25 2023, @06:24AM
This is called "isolating the toxic assets".
(Score: 0) by Anonymous Coward on Saturday March 25 2023, @12:19PM (1 child)
Businessmen and Engineers. It sure is a love-hate relationship.
Yeh, businessmen live on being a team player and minding social protocols. Finance. Marketing. Office politics. How to get permissions from the powers that be to allow something to happen. How to put it all together and create jobs and put a product on the shelves.
While Engineers tend to worry about little details like energy density, energy storage capacity, energy transfer rates, safety, usability, support infrastructure, and, where all the electricity is gonna come from.
Methinks the businessmen put dreams ahead of their engineers.
It won't work.
Neither will the converse work.
All you get is a population of engineers who know how to build something, but aren't in a productive environment.
We need to relearn the structures we had a century ago that fomented the American production. If our politicians succeed in igniting World War 3, this will happen, but it will be too late.
I think this house of cards is coming down.
A lot of us will then understand why our forefathers valued freedom so much.
(Score: 3, Insightful) by Anonymous Coward on Saturday March 25 2023, @04:05PM
Of course they are going to be in the red if they are building new factories and buying raw materials they don't have. They're in the red because they are investing in the technology for the future, and I don't think they are allowed to back it all by selling "carbon credits" to other companies, like has been done in the past. I see this as an encouraging sign.