DETROIT — Ford Motor Co. expects its electric vehicle business to lose $3 billion this year, even as it forecasts increased profits on its internal combustion and commercial vehicle operations.
The automaker on Thursday projected that losses from its EV unit, called Model e, will increase nearly 50 percent in 2023 from $2.1 billion last year as it continues to invest in boosting production and developing next-generation products on a dedicated EV platform. Ford said it expects about $7 billion in earnings before interest and taxes this year for Ford Blue, its internal combustion business unit, and about $6 billion for Ford Pro, its commercial unit.
Those units made $6.8 billion in 2022 and $3.2 billion in 2022, respectively. Overall, the company posted adjusted EBIT of $10.4 billion and $2 billion net loss.