How Ford plans to turn a profit on EVs in under four years
Publishing timestamp: 2023-03-23 19:52:33
Summary
Ford forecasts its electric vehicle unit, Model e, to be profitable by the end of 2026, despite significant losses in 2022 and 2023. The company plans to achieve an 8% EBIT profit margin through scaling up production, energy-efficient designs, battery cost reductions, and other incremental gains. Wall Street analysts remain skeptical about Ford's ability to reach this target.
Sentiment: MIXED
Keywords: electric vehicles, climate, general motors co, ford motor co, technology, autos, business news, automobile manufacturing, tesla inc, transportation, business,
Source: https://www.cnbc.com/2023/03/23/fords-plan-for-2026-ev-profitability.html