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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 needs a farewell address, not a new marketing plan

The trouble with Ford's Lincoln brand is that no one cares about it any more.
Not long after I heard that Mark LaNeve, chief operating officer of Ford agency Team Detroit, was moving to take over direct operations of the New York ad agency Hudson Rouge for Lincoln, I heard that JCPenney CEO Ron Johnson was ousted. The two events are connected.

Art students explore what a Lincoln might look like in 2040

Lincoln gave students at the ArtCenter College of Design an unusual challenge. It asked them to sketch their idea of what its cars will look like in the year 2040, and it instructed them to team up with students specializing in other fields (including film and illustration) to create a short movie that depicts their concept, the environment it operates in, and the folks who drive it. Over a year in the making, the final submissions have been presented to the public. "More than just the vehicles themselves, we were looking for that great narrative development, that rich storytelling. It's so important to understand the future ecosystem in which a concept vehicle will live," explained Jordan Meadows, the global strategic design specialist for Lincoln, in a statement.  Four teams of students participated in the project, which Lincoln called Quiet Flight 2040. Students received a basic set of guidelines that helped them create what the Ford-owned firm referred to as "the ultimate beautiful gliding human sanctuary," a term that's intentionally open to interpretation. Four body styles were chosen: a two-passenger car, a four-passenger vehicle, a different four-passenger model with a higher, SUV-like ride height and a six-seater. Participants created the concepts from scratch and showcased them in short films. The design studies are crammed with futuristic features, including autonomous driving systems, a technology that displays images on the dashboard, touchscreens embedded into the door windows, and a lounge-like interior that wouldn't look out of place at the Consume Electronics Show (CES). One is a crossover with a fastback-like roof line, another is a stately sedan, a third is an elegant coupe and the last is a van-like vehicle that looks like nothing Lincoln has ever built before. Nothing suggests these concepts will be built, let alone approved for production. What's certain is that, from a student's perspective, Lincoln's future looks a lot different than Polestar's. Volvo's upmarket offshoot held a similar contest in late 2020, and the finalists returned with a sci-fi blimp, an electric yacht and an autonomous pod. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2020 Lincoln Aviator Back Seat Review | Autoblog