Ford plans to be at a 600,000-unit run rate for its EVs by the end of this year and 2 million by the end of 2026.<\/figcaption><\/figure><\/div>\n\n\n\nOld school tech funds the new<\/h2>\n\n\n\n
This is the first time Ford has broken out the numbers for its different lines of business. The numbers reaffirm what investors have long suspected; the company’s gasoline-powered vehicles bring in the bucks and help fund development of EVs and mobility ventures.<\/p>\n\n\n\n
While Ford Blue and Ford Pro are both consistently profitable, Ford Model e is anticipated to be breakeven by the beginning of 2024. Nonetheless, Farley remains critical of Ford Blue\u2019s efficiency, and expects to slash $2.5 billion in expenses from the division this year. But the picture is brighter for Ford Pro, where a new Ford Transit van is expected to fulfill pent-up demand. In all, the company reiterated its guidance of full-year EBIT of $9 billion to $11 billion and $6 billion in adjusted free cash flow.<\/p>\n\n\n\n
By the end of this year, the manufacturer hopes to be able to produce 600,000 EVs annually, rising to 2 million by the end of 2026.<\/p>\n\n\n\n
The news sent Ford (NYSE: F) shares up 1.83% to $11.68 in early trading.<\/p>\n\n\n\n
More to come<\/h2>\n\n\n\n
On Tuesday, May 2, Ford is expected to release its first-quarter financial results. <\/p>\n\n\n\n
Next, on May 22, Ford executives will provide updates on the company’s expanding software and services business, strategic potential, and progress. They will also go in-depth on their plans and key performance indicators for each of their business sectors.<\/p>\n","protected":false},"excerpt":{"rendered":"
Just as you suspected, gas-powered cars are funding the development of their replacements, EVs. TheDetroitBureau.com has Ford Motor Co.\u2019s latest stats, including losing $3B on EVs in 2023.<\/p>\n","protected":false},"author":13752,"featured_media":238891,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[7,8,5,1908,10,1164,4344],"tags":[5118,521,10259,5117,364,3479],"make":[],"post-state":[],"category_old":[],"acf":[],"_links":{"self":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts\/240535"}],"collection":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/users\/13752"}],"replies":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/comments?post=240535"}],"version-history":[{"count":8,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts\/240535\/revisions"}],"predecessor-version":[{"id":240548,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts\/240535\/revisions\/240548"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/media\/238891"}],"wp:attachment":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/media?parent=240535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/categories?post=240535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/tags?post=240535"},{"taxonomy":"make","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/make?post=240535"},{"taxonomy":"post-state","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/post-state?post=240535"},{"taxonomy":"category_old","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/category_old?post=240535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}