What Ford Wants You to Know About Its EV Plans
If there's an elephant in the room for Ford Motor Company (NYSE: F) investors, it's certainly the whopping $4.7 billion loss from its Model e unit, Ford's division for electric vehicles (EVs). And while the $4.7 billion loss in 2023 was rough enough, it's going to get worse before it gets better, as management expects the loss to reach over $5 billion in 2024.
Thankfully, Ford has updated its strategy a bit. Here's what it wants investors to know about its EV plans going forward.
Investors were excited when Ford management announced plans for its Model e unit to reach profitability before taxes by late 2026, and even reaching 8% pre-tax profit margins. Unfortunately, thanks in part to stalling EV demand, investors can crumble up that target and push it back.
Source Fool.com
