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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.

Ford recalls nearly 200,000 Expeditions and Navigators for fire risk

Ford is recalling 2015-2017 Expeditions and 2015-2017 Lincoln Navigators because the front blower motor could fail and cause a fire. In total, 198,482 Expeditions and Navigators will be recalled. In the official recall documents posted by NHTSA, Ford says that it “has not identified the cause of this condition.” However, Ford also says it is currently aware of 25 fire allegations related to the blower motors on these vehicles. Despite not strictly identifying the cause of blower motor fires, Ford put forth a theory in its fieldwork analysis of the issue.  “In June 2022, based on component analysis, Ford Engineering theorized that a mispositioned blower motor brush holder spring could cause an internal short or localized heating of the brush spring or holder. It is believed that when a fire initiates on the blower motor, it does so at the positive brush holder location. The variable blower controller would remain operational and there would be no signs of an overheated relay. Field data indicates that this concern typically occurs at a higher time in service, and on vehicles with higher mileage.” Since the blower motor is located on the passenger side interior behind the glovebox, the fires that start are interior fires. Ford isnÂ’t aware of any accidents related to this issue, but there is one claim of burnt hands and fingers as a result of a fire. According to Ford, warning signs of an impending fire or failed blower motor include an inoperative fan, burning smell and/or smoke from the instrument panel vents while the vehicle is on. To remedy this situation, Ford is recalling the affected SUVs and replacing the blower motor assembly with a revised part. The new part uses a blower motor assembly design utilized on other applications. If folks with these SUVs experience any symptoms of blower motor failure before the new part becomes available, Ford says they can take their vehicle to the dealer to have it replaced with a part of the same design. Once the redesigned part becomes available, the dealer will then swap it in. Owner notification letters are expected to begin on September 12 this year. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

2021 Lincoln Nautilus' inner chamber: Interior gets a complete redesign

Unlike the sea creature with which it shares a name, the Lincoln Nautilus luxury crossover is steadily evolving. It was refreshed just two years ago when it adopted the Nautilus name (it was previously called MKX) as well as an updated exterior and turbocharged engine lineup. For 2021, the Nautilus doesn't change much on the outside, but it does get a thoroughly redesigned interior. The exterior design updates to the Nautilus are hardly noticeable. The lower intakes on the bumper have been closed up and smoothed over, giving the fascia a slightly cleaner design. The opposite has happened at the back where the faux diffuser area has been given a bit more detailing. Otherwise, the rest of the crossover is unchanged, from the corporate grille to the deeply creased lines over the wheel wells. The inside is the big draw, where the flowing, but somewhat plastic-looking design has been replaced by a glitzier design based on the interiors of the rest of the Lincoln lineup. It features a low, horizontally-oriented dual-plane dashboard with lots of chrome and leather or leatherette. It also has a gap between the center console and center stack that gives the console a bit of a floating appearance. Another big change is the availability of a 13.2-inch infotainment screen running Sync 4. It's the largest screen offered on any Lincoln model. It's also 1.2 inches larger than the unit in its cousin, the Ford Edge. But unlike the Edge's screen, this one is mounted horizontally, and it doesn't appear to replace many, if any, buttons and knobs. Along with Sync 4 comes natural speech recognition, over-the-air updates and wireless Apple CarPlay and Android Auto. Mechanically, the Nautilus is unchanged. The standard engine is a turbocharged 2.0-liter four-cylinder making 250 horsepower and 280 pound-feet of torque. A turbocharged 2.7-liter V6 with 335 horsepower and 380 pound-feet of torque is available as an option. Both engines come with an eight-speed automatic transmission. Front-wheel drive is standard with all-wheel-drive as an option. The new Nautilus goes on sale early next year. Pricing hasn't been announced, but shouldn't change drastically from current pricing. The current Nautilus starts at about $42,000. Related Video: