Ford lost $5 billion on its EV business in 2024—and things could get worse this year | Fast Company

February 6, 2025 ~ knjohn ~ Leave a comment

Ford Motor on Wednesday projected up to $5.5 billion in losses on its electric vehicle and software operations this year, a loss similar to last year and a sign of the severe difficulties in cutting costs on battery-powered models.

The automaker forecast overall profitability for 2025, but even that was lower than in 2024. For the fourth quarter, it reported a net profit of $1.8 billion, up from a loss of $500 million in the year-ago quarter as pension-related costs weighed on results.

The company’s shares were down nearly 5% in after-hours trading

Tesla may be floundering—but Ford’s EV sales tell a different story | Fast Company

May 13, 2024May 12, 2024 ~ knjohn ~ Leave a comment

Tesla, you may have heard, is going through a rough patch, and the company represents a large enough share of U.S. electric vehicle sales that its problems could lead to a down year for the entire market.

But that hasn’t happened—at least not yet—partly because several other brands’ EV sales have risen to take the sting out of Tesla’s decline.

Ford is looking especially good, with year-to-date sales through April of 28,252 EVs, an increase of 97% from the same period last year. That makes Ford the country’s second-leading EV brand, although Tesla still outsells Ford’s EVs at a rate of about seven to one.

EPA gas car crackdown: Is Biden’s America ready for this many EVs? | Fast Company

April 14, 2023April 13, 2023 ~ knjohn ~ Leave a comment

The Environmental Protection Agency’s new car-pollution rules, proposed on Wednesday, represent one of President Biden’s most aggressive policies to tackle climate change to date. If enacted, the tailpipe standards would have the effect of making U.S. emissions standards so strict over the next decade that electric vehicle sales would climb radically—from 5.8% of vehicles sold last year, to an estimate of 64% to 67% by 2032. At a press conference Wednesday, EPA Administrator Michael Regan called the regulations “the strongest-ever federal pollution standards for cars and trucks.”

Ultimately, the Biden administration claims it could cut car exhaust in half. The proposed regulations are the latest in a yearslong push to make America’s car industry greener. Early in his presidency, Biden declared: “The future of the auto industry is electric. There’s no turning back.” The EPA’s proposed rule change is evidence that the administration is sticking with that—but transforming America into a country where there are no gas engines in two-thirds of all new cars sold will be a bumpy ride, which requires addressing several challenges of EVs.