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Ford Model e losing billions as it says EV unit should be seen as startup

DETROIT — Ford Motor Co.'s electric vehicle business has lost $3 billion before taxes during the past two years and will lose a similar amount this year as the company invests heavily in the new technology. The figures were released Thursday as Ford rolled out a new way of reporting financial results. The new business structure separates electric vehicles, the profitable internal combustion and commercial vehicle operations into three operating units. Company officials said the electric vehicle unit, called “Ford Model e,” will be profitable before taxes by late 2026 with an 8% pretax profit margin. But they wouldn't say exactly when it's expected to start making money. Chief Financial Officer John Lawler said Model e should be viewed as a startup company within Ford. “As everyone knows, EV startups lose money while they invest in capability, develop knowledge, build (sales) volume and gain (market) share,” he said. Model e, he said, is working on second- and even third-generation electric vehicles. It currently offers three EVs for sale in the U.S.: the Mustang Mach E SUV, the F-150 Lightning pickup and an electric Transit commercial van. The new corporate reporting system, Lawler said, is designed to give investors more transparency than the old system of reporting results by geographic regions. The automaker calculated earnings for each of the three units during the past two calendar years. Model e had pretax losses of $900 million in 2021 and $2.1 billion last year, and it is expected to lose $3 billion this year. In the past two years Ford has announced it would build four new battery factories and a new vehicle assembly plant as well as spending heavily to acquire raw materials to build electric vehicles. By the end of this year, the company based in Dearborn, Michigan, expects to be building electric vehicles at a rate of 600,000 per year, reaching a rate of 2 million per year by the end of 2026. Ford Blue, the unit that sells internal combustion and gas-electric hybrid vehicles, made just over $10 billion before taxes during the last two years. Ford Pro, the commercial vehicle unit, made $5.9 billion during those years, the company said. For this year, Ford expects Ford Blue to post a $7 billion pretax profit, modestly better than last year. Ford Pro is expected to earn $6 billion before taxes, nearly double its earnings last year, Lawler said. Ford was to present the new structure, announced last March, to analysts and investors on Thursday.

Lincoln's L100 teases luxurious autonomy with crazy-long doors

Lincoln chose Pebble Beach (not to mention its brand centennial) to show its new autonomous coupe concept. This unconventional 2+2 has everything you expect from a classic Lincoln luxury car — an extravagant presence, over-the-top appointments and, most importantly, the most ridiculous suicide doors we've ever seen. It may not seem obvious in photos, but the L100 is truly massive. It's longer than a Navigator (Lincoln's words) and arguably has a far more impressive aura. The wheels are tucked beneath the L100's body work to make the car more slippery; the slick impressions adorning the bodywork are lined with LEDs, allowing for a customizable movement "signature."  And then there are the doors. The L100's massive portals are mounted on hinges the likes of which you've never seen, which is appropriate given the scale of this massive coupe. The doors open rearward, then outward imbuing the works with look akin to that of a mechanized insect startled by an intruder. The angle can be customized, Lincoln says, and the ingress/egress points are lined with LEDs that allow for custom lighting effects, including an illuminated "red carpet" that makes puddle lamps look like weak party tricks.  Lincoln Model L100 Concept Exterior 7 View 13 Photos "We are at a special moment in our history. Over the last 100 years, Lincoln has pioneered multiple innovations and pushed the boundaries of design that have come to define our brand as we know and love it today," says Joy Falotico, president, Lincoln. "With the Model L100 Concept, we reimagine what the Lincoln sanctuary might look like for our clients of tomorrow moving us forward to define the next chapter of the Lincoln story." Lincoln was light on the L100's technical details, suggesting only that it utilizes next-gen (solid state) battery tech and a wheel-in-motor configuration to maximize available interior space. The stylized "wheel" panels eliminate turbulence and are sculpted outward from the car's centerline to maximize space for the actual wheels and tires hidden beneath them. Lincoln's designers say it was surprisingly easy to assure clearance for the front wheels to pivot with steering inputs, but despite the L100's size, it's hard not to fixate on how narrow that front track must be. Lincoln's idea of the next chapter is one where people still own their own cars even if they don't drive them. This is in contrast to Cadillac's InnerSpace concept, which is otherwise very similar in both concept and execution.

Driving the Lincoln Aviator and flogging Abarths at Laguna Seca | Autoblog Podcast #593

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by West Coast Editor James Riswick and Associate Editor Joel Stocksdale. To begin, Greg takes a moment to remember the fastest woman on four wheels and former host of Autoblog's "The List," Jessi Combs, who died this week. Then our editors turn their attention to the cars they've been driving, including the Lincoln Aviator, Ford Ranger and Nissan Frontier, as well as Joel's recent stint in the Fiat 500 Abarth and Fiat 124 Spider Abarth, including track time at Laguna Seca. Finally, they turn their attention to a listener in Germany who is looking to replace an aging Volkswagen Eos with a newer convertible in this week's "Spend My Money" segment. Autoblog Podcast #593 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Remembering Jessi Combs 2020 Lincoln Aviator and Aviator Grand Touring 2019 Ford Ranger 2019 Nissan Frontier 2019 Fiat 500 Abarth and 124 Spider Abarth at Laguna Seca Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.