Ford Reports Earning For Q3 Including $1.2 Billion EV Loss

Ford reported its third-quarter earnings this week, highlighting continued losses for its Model e division as it aims to reach profitability on electric vehicles (EVs).

 

During its Q3 earnings call on Monday, Ford reported an EBIT loss of $1.2 billion for the Model e EV arm of the company, adding that it now expects a full-year loss of about $5 billion. The company also highlights $1.2 billion in Model e revenue, up 33 percent year-over-year.

 

The company also noted that its $500 million in year-over-year cost improvements were offset by pricing pressure across the industry, though it continues toward profitability with almost $1 billion in cost improvements thus far this year.