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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.

2021 Lincoln Aviator Review | What's new, price, plug-in hybrid, video

The 2021 Lincoln Aviator is the right vehicle at the right time. It’s a distinctly American take on the three-row luxury crossover segment, boasting big power and a splash of green on the side. It draws you in with its long, sleek exterior, then leaves mouths agape at the beautiful and characterful interior. Its rear-drive architecture developed in concert with the Ford Explorer gives rise to two stout powertrains. A 400-horsepower turbo V6 is standard, but the PHEV is the real barn burner with a silly 494 horses and 630 pound-feet of torque on tap. ItÂ’s a downright splendid combination of American luxury and muscle. Despite all that power, though, donÂ’t come in expecting a stiff, handling-focused crossover like youÂ’ll get from German luxury brands. The power and adaptive suspension is there to make the driving experience effortless, not to set fast lap times. Lincoln isnÂ’t trying to best AMG or M at their own game, opting instead to put its own stake in the ground as peak American luxury. The option to get a plug-in hybrid should make it ideal for eco-conscious luxury buyers who might scoff at a Navigator, too. If youÂ’re looking for a luxurious family vehicle that prioritizes serenity and comfort above all else, take a hard look at the Aviator. What's new for 2021? Not much has changed in the AviatorÂ’s second year besides some packaging and color shuffling. New exterior colors include Asher Gray and Ocean Drive Blue. Flight Blue is no longer a Black Label exclusive, either — you can spec it on Reserve and up for 2021. In packaging news, the panoramic sunroof is made standard on the Reserve trim; soft-close doors are standard on Black Label, and a “high-efficiency” cabin filter is standard on all trims. 2020 Lincoln Aviator Grand Touring Black Label View 34 Photos What are the Aviator interior and in-car technology like? No other company's interiors look anything like the mid-century-inspired palace of cool you get in the Aviator. All versions are available with distinctive color schemes shown below, but the Black Label trim level stands out the most with its three available "themes" of "Chalet," "Flight" and "Destination" that get special colors and trim types. The quality of some plastics and the fit-and-finish aren't up to Mercedes or BMW levels, but everything looks so special that it covers whatever deficit exists. Most competitors just seem drab and generic by comparison.

L.A. Auto Show, Chevy Volt and the Lincoln Navigator | Autoblog Podcast #563

On the latest Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Green Editor John Snyder. First, they recap the biggest and best reveals of the 2018 Los Angeles Auto Show. Then they take a moment to say goodbye to the Chevy Volt, and to talk about their recent drives in the to-be-discontinued plug-in. Finally, they review the Lincoln Navigator, and marvel at the Black Label's stunning interior treatment.Autoblog Podcast #563 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 2018 L.A. Auto Show recap 2020 Porsche 911 2020 Jeep Gladiator 2020 Lincoln Aviator 2019 Mazda3 Rivian R1T pickup and R1S SUV 2020 Hyundai Palisade 2019 Honda Passport Audi E-Tron GT Concept One last drive in the Chevrolet Volt Driving the Lincoln Navigator Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: