Ford expects its electric vehicle business to incur a loss of $45 billion this year and delays its production target

Ford expects a $45 billion loss in its electric vehicle business this year and postpones its production goal

【Phoneauto News】Recently, Phoneauto noticed that Ford announced on Thursday that it expects its electric vehicle business to lose $4.5 billion this year, further widening the loss compared to last year. This news came after the company delayed its electric vehicle production goals, citing slower market acceptance than expected. Ford now expects to produce electric vehicles at a rate of 600,000 units per year at some point in 2024, a delay from the previous estimate of reaching this level by the end of 2023. Although the company’s previous goal was to produce over 2 million electric vehicles annually by the end of 2026, it now expresses uncertainty about when this goal can be achieved.

This adjustment indicates that Ford is facing fierce competition in the electric vehicle market and needs to increase investment in technology innovation and production to maintain its competitiveness. However, despite slower market acceptance than expected, Ford remains confident in the electric vehicle market and will continue to invest in this area to achieve broader market coverage. Although the projected $4.5 billion loss this year is a significant blow to Ford, it is also a necessary investment in the electric vehicle market. By delaying production goals and expressing uncertainty about market acceptance, Ford demonstrates its sensitivity and adaptability to market changes. Despite short-term difficulties, Ford firmly believes that it will achieve profitability in this market as the electric vehicle market matures and its technology advances. Currently, the company is actively seeking new solutions to cope with market competition and accelerate the research and development and production of electric vehicles.

Overall, Ford’s move demonstrates its ambition and determination in the electric car market. Although there may be difficulties and setbacks in the short term, the company firmly believes that through continuous investment and effort, it will achieve its production goals and gain market share. The next few months and years will be challenging but also full of opportunities for Ford. By adjusting production targets, updating strategies, and continuing to invest in electric vehicle technology, Ford showcases its competitiveness and leadership in the market. At the same time, it also demonstrates Ford’s commitment and determination to the environment and sustainable future.

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