Automotive News: Woke Ford lost $5.1 billion on EVs in 2024

Woke Ford Motor Company has reported a $5.1 billion loss in its electric vehicle and software business for 2024, with expectations of losing even more in 2025.

They believed the Green New Scam lies and are paying dearly for it now.

The Verge reports that on Wednesday, Ford Motor Company announced its fourth quarter and full-year earnings for 2024, surpassing Wall Street expectations.

However, the automaker also reported substantial losses in its electric vehicle (EV) and software division, known as Model e. The company lost $5.1 billion in this segment in 2024, a significant increase from the $4.7 billion lost in the previous year. Furthermore, Ford predicts that losses will continue to mount, potentially reaching $5.5 billion in 2025.

Despite these setbacks in the EV business, Ford’s traditional gas-powered vehicles continue to perform well, generating sufficient revenue to keep the company profitable overall. The automaker reported a full-year net income of $5.9 billion and an adjusted earnings of $10.2 billion. However, Ford cautioned that its earnings may drop by $2 billion or more in 2025 due to losses on Electric Vehicles.