The Ford Motor Company revealed that its electric vehicle (EV) business, the Model e, took a $2.1 billion loss over the course of 2022 and the company predicted that it will lose another $3 billion in 2023 as the company invests further in the project.
The loss of about $2.1 billion for Ford EVs in 2022 adds to an approximately $900 loss from 2021.
The automobile manufacturer offset its approximately $3 billion losses on EVs over the past two years with profits on its internal combustion and hybrid vehicle sales. Ford Blue, which sells internal combustion and gas-electric hybrid vehicles, made just over $10 billion before taxes during the last two years. Ford Pro, which serves as Ford’s commercial vehicle unit, made $5.9 billion during those years….