John Lawler, Chief Financial Officer of Ford, rings the opening bell at the New York Stock Exchange (NYSE), March 23, 2023. Brendan McDermid | Reuters Ford Motor disclosed Thursday that its electric vehicle unit, called Ford Model e, lost $2.1 billion in 2022 — and could lose as much as $3 billion in 2023. But… Continue reading How Ford plans to turn a profit on EVs in under four years
Tag: Manufacturing
Ford’s EV business lost $2 billion in 2022, offset by big profits in fleet and legacy units
The badge of a Ford Motor Co. E-Transit electric vehicle during a presentation in Washington, D.C., U.S., on Wednesday, July 28, 2021. Al Drago | Bloomberg | Getty Images Ford Motor said Thursday its electric vehicle business lost $2.1 billion last year on an operating basis, a loss that was more than offset by $10… Continue reading Ford’s EV business lost $2 billion in 2022, offset by big profits in fleet and legacy units
Chevy Camaro RIP, but a successor may be in the works
And then there was one. Detroit’s muscle car lineup shrank to the Ford Mustang on Wednesday as Chevrolet announced the end of Camaro production after the 2024 model year. The Camaro’s demise follows the discontinuation of Dodge’s popular Challenger coupe at the end of this year. V8-powered cars like the Camaro are under intense regulatory… Continue reading Chevy Camaro RIP, but a successor may be in the works
Ford reveals EV losses as it rolls out new financial reporting
Ford Motor Co. is set to lose $3 billion on its electric vehicle business this year — but it expects losses to reverse in the coming years as volumes of plug-in vehicles grow. In the meantime, billions of dollars in profits from internal-combustion engine and commercial vehicles are bolstering the Dearborn automaker’s financial results, according… Continue reading Ford reveals EV losses as it rolls out new financial reporting
2 employees of Tennessee town near planned Ford EV complex indicted
Memphis, Tenn. — Two employees of a rural Tennessee town that resisted a takeover attempt by the state after Ford Motor Co. announced plans to build an electric truck plant nearby have been charged with the theft of town funds and official misconduct, officials said Wednesday. Reva Marshall, the former finance officer for the town… Continue reading 2 employees of Tennessee town near planned Ford EV complex indicted
China remains Germany’s most important market for combustion engine cars: Destatis
A Volkswagen employee works on an assembly line in Chengdu, Sichuan province, in December. WANG QIN/FOR CHINA DAILY BERLIN – China remained the most important market for German combustion engine cars in terms of volume in 2022 with a share of 14 percent, the Federal Statistical Office (Destatis) said on Thursday. Germany’s total exports of… Continue reading China remains Germany’s most important market for combustion engine cars: Destatis
GAC Group opens technology museum in Nansha
An interior look of the GAC Technology Museum, which was recently opened in Nansha of Guangzhou, Guangdong province. [Photo provided to chinadaily.com.cn] Chinese automobile manufacturer GAC Group has opened a technology museum in Nansha of Guangzhou, the capital of Guangdong province, to display its technological innovation achievements in new energy and intelligent connection of vehicles.… Continue reading GAC Group opens technology museum in Nansha
SAIC Maxus’ 1 millionth vehicle rolls off production line
An MIFA 9 MPV marks the 1 millionth vehicle of SAIC Maxus as the carmaker celebrates its 12th anniversary on March 20, 2023. [Photo provided to chinadaily.com.cn] An electric MPV rolled off the assembly line of SAIC Maxus’ plant in Nanjing, Jiangsu province, on Monday, marking the 1 millionth vehicle the 12-year old Chinese carmaker… Continue reading SAIC Maxus’ 1 millionth vehicle rolls off production line
CATL confirms mass production of batteries
CATL batteries are displayed during an expo in Xiamen, Fujian province. [Photo provided to China Daily] Contemporary Amperex Technology Co Ltd, the world’s largest electric vehicle battery maker, confirmed to China Daily that the company has achieved mass production of its cutting-edge Qilin batteries. Zeekr, an emerging Chinese automaker owned by Geely Automobile Holdings, also… Continue reading CATL confirms mass production of batteries
Hawaiian Airlines and Gevo Enter into Sustainable Aviation Fuel Sales Agreement
HONOLULU, March 23, 2023 /PRNewswire/ — Hawaiian Airlines today announced that it has reached an agreement with biofuel company Gevo, Inc. to purchase 50 million gallons of sustainable aviation fuel (SAF) over five years. Gevo expects to supply the SAF from a facility to be constructed in the Midwestern United States and begin deliveries to… Continue reading Hawaiian Airlines and Gevo Enter into Sustainable Aviation Fuel Sales Agreement