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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.

2020 Lincoln Corsair revealed with baby Aviator looks

NEW YORK — Since Ford has unveiled the new Escape, it only makes sense that Lincoln would reveal its redesigned Escape-based luxury crossover, the 2020 Lincoln Corsair. The new crossover takes the place of the also-Escape-based MKC. Design-wise, the only real giveaway that the Corsair is built off the Escape's front-drive platform is the short stretch between the base of the A-pillars and the front wheels. Otherwise, the Corsair simply looks like a scaled-down Aviator. While not particularly groundbreaking, it's far from a bad choice, as it looks both broad-shouldered and sleek with a big front fascia and gently falling roofline. Even better, the interior clearly takes cues from the bigger Lincoln crossovers and SUVs with a horizontal layout, lots of chrome, and a bit of a midcentury modern feel. The Corsair does get unique touches such as a full-width air vent design, and a center stack that juts out unsupported from the dashboard. It's the inverse of the Aviator and Navigator control stacks. Lincoln's 24-way power adjustable front seats will be available as an option, while manual sliding and reclining rear seats are standard. Lincoln also touts sound-deadening features such as a dual-wall firewall panel and active noise canceling as standard features. Owners will also be able to use their cellphones as keys to access the car and to control functions from afar, storing settings for the infotainment, seats and climate control among other things. A key fob still comes with the car, and if a phone goes dead, the car can still be accessed and started using both the outside keypad and the infotainment touchscreen. Phones can be deactivated remotely, too, in case of it being stolen or lost. With Escape underpinnings come powertrains similar to that crossover. But the Corsair starts its line with the Escape's top-rung engine, a 2.0-liter turbocharged inline-four making 250 horsepower and 275 pound-feet of torque. It comes with front-wheel drive as standard, but all-wheel drive is available. According to the Corsair's lead engineer, John Jraiche, the all-wheel-drive system can shift 100% of power to the front or rear. It also disengages the rear wheels when not needed for improved efficiency. The other engine announced is a 2.3-liter turbocharged inline-four making 280 horsepower and 310 pound-feet of torque. This engine isn't available on the Escape, and it comes standard with all-wheel drive.

2023 Lincoln Corsair gains a new face and more tech, loses buttons

The 2023 Lincoln Corsair heads into its next model year with a notable refresh inside and out.  Lincoln’s best-selling vehicle gains a number of items, but it also loses a big one: the previously optional 2.3-liter turbocharged four-cylinder. Due to low take rate, Lincoln is dropping its most powerful engine from the lineup, making the 2.0-liter turbocharged four-cylinder with 250 horsepower the only pure-gasoline version of the 2023 Corsair. Lincoln says the 2.0-liter is updated and changed for emissions reasons, but it returns the same output and fuel economy as before. The Grand Touring PHEV carries over unchanged, so itÂ’s still rocking the 2.5-liter naturally aspirated four-cylinder and single electric motor for a combined 266 horsepower. The exterior changes are largely contained to the CorsairÂ’s new face. It gets a totally new grille that is much larger than before. It features a wavy surface, and for the PHEV, it has a metallic foil surface with blue accents to denote its hybrid status. The lower front bumper is revised to accommodate the new grille design, and new wheel options are available across the board. No changes are made to the rear. Lastly, two new color options are available: Crystal Red and Whisper Blue. The blue is new to Lincoln, and seeing it in person, it skews more towards periwinkle than blue — we like it a lot. As for the interior, Lincoln has redesigned the center stack with a new 13.2-inch infotainment touchscreen taking center stage. It runs Sync 4 technology, can be updated via over-the-air updates and features Amazon Alexa. YouÂ’ll be able to monitor the CorsairÂ’s new Auto Air Refresh system (an optional feature) via the infotainment system, too. It features a laser sensor and unique cabin air filter that constantly monitors the cabin air quality and is capable of refreshing the air in the cabin 1.5 times per minute. A 12.3-inch instrument cluster also runs new software for 2023, and it comes standard in the Corsair now. The new center stack designdeletes the large array of climate and media controls that were previously there, which Lincoln says was for the purpose of promoting a more airy cabin and a feeling of spaciousness. A volume knob is still present, but the vast majority of the functions previously controlled by buttons and knobs can now be found in the big, new touchscreen. Yes, that means the climate controls are now integrated into the touchscreen.