• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Three Treatment Options To Consider

May 9, 2025

Microsoft Bans Employees From Using ‘Chinese Propaganda’ Chatbot

May 9, 2025

How Smart Mattresses Improve Sleep Quality For Couples

May 9, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Saturday, May 10
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Microsoft Bans Employees From Using ‘Chinese Propaganda’ Chatbot

    May 9, 2025

    OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

    May 9, 2025

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»Ford Hemorrhages Another $1.2 Billion On EVs As Market Struggles Continue
Business

Ford Hemorrhages Another $1.2 Billion On EVs As Market Struggles Continue

October 29, 2024No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Ford Hemorrhages Another $1.2 Billion On EVs As Market Struggles Continue
Share
Facebook Twitter LinkedIn Pinterest Email

Ford Motor Company lost another $1.2 billion on electric vehicles (EV) in the third quarter, according to a Monday press release.

The company’s net income also fell to $0.9 billion, down $0.3 billion from the third quarter of 2023, according to the press release. The loss was largely due to a $1 billion charge related to EVs, according to the release.

Ford’s earnings before interest and taxes (EBIT) for the full year is expected to be around $9 billion for Ford Pro, while Model e, the company’s EV division, is expected to have a loss of about $5 billion for the whole year, according to the release.

“We are in a strong position with Ford+ as our industry undergoes a sweeping transformation,” Ford President and CEO Jim Farley said in the release. “We have made strategic decisions and taken the tough actions to create advantages for Ford versus the competition in key areas like Ford Pro, international operations, software and next-generation electric vehicles. Importantly, over time, we have significant financial upside as we bend the curve on cost and quality, a key focus of our team.”

The American automaker has been trying to incentivize buyers to purchase EVs amid a struggling market, and announced in September that it would offer free EV chargers and home installations for customers.

Ford lost $4.7 billion on EVs in 2023. The automaker previously reported a $1.3 billion loss for the first quarter of the year, and announced in August that it was scrapping plans to build three-row electric SUVs.

BRISTOL, UNITED KINGDOM – MARCH 05: The logo of the Ford Motor Company is displayed on the front grille of an electric Ford Transit being charged in a dealership on March 5, 2023 in Bristol, England. Founded by Henry Ford and incorporated in 1903 the Ford Motor Company is an American multinational automobile manufacturer that has been in continuous family control for over 100 years. (Photo by Matt Cardy/Getty Images)

The Biden-Harris administration has pushed for greater domestic manufacturing of EVs as part of its clean energy agenda. President Joe Biden previously set a goal of installing half a million public EV chargers across the U.S., but the plan has been met with various delays. (RELATED: US Auto Sales Remain Stuck Below Pre-Pandemic Levels)

See also  Oscar Health Reports A Loss And Fewer Members Despite Operating In A Robust Obamacare Market

Ford and other U.S. automakers have faced fierce competition from China as it continues to dominate the EV market. Farley recently admitted to driving an EV manufactured in China despite his company previously receiving billions for domestic EV production.

Ford pointed the Daily Caller News Foundation to a company earnings call from Monday when asked for comment.

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

Billion Continue EVs Ford Hemorrhages market struggles
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Microsoft Bans Employees From Using ‘Chinese Propaganda’ Chatbot

May 9, 2025

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Fantasy Cricket Tips, Today’s Playing 11 and Pitch Report for Zimbabwe Emerging tour of South Africa, Match 5

August 23, 2023

Chinese Builder’s $1.8 Billion Distressed Asset Gets No Bids

July 5, 2023

Using Non-White Actors ‘Not Enough’

May 8, 2023

Jeff Bezos, Lauren Sanchez Donate $100 Million To Rebuild Maui After Devastating Wildfires

August 14, 2023
Don't Miss

Three Treatment Options To Consider

Lifestyle May 9, 2025

The most common cause of hair loss in men is male androgenetic alopecia (MAA), otherwise…

Microsoft Bans Employees From Using ‘Chinese Propaganda’ Chatbot

May 9, 2025

How Smart Mattresses Improve Sleep Quality For Couples

May 9, 2025

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,112)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,629)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Sri Lanka’s Steep Climb Out of the Economic Abyss

February 27, 2023

Feds Buy Up Our Personal Data from Silicon Valley

June 14, 2023

The Corporate Media and Big Tech Interfered in the 2020 Election, and ‘Breaking the News’ Provides Undeniable Proof

January 21, 2024
Popular Posts

Three Treatment Options To Consider

May 9, 2025

Microsoft Bans Employees From Using ‘Chinese Propaganda’ Chatbot

May 9, 2025

How Smart Mattresses Improve Sleep Quality For Couples

May 9, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.