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During a recent earnings call, Ford reported a $5.1 billion loss for its Model E division in 2024, a $400 million increase from the previous year. CEO Jim Farley maintained optimism, citing a shift towards future profitability, aided by a focus on hybrid models and continued investments in next-generation products.
Ford is facing industry pricing pressures and increasing investments in battery plants while managing delays in their EV rollout timetable. Despite these challenges, the company has been granted an extension on its battery plant commitments in Michigan, initially scaled down due to slower EV demand. The revised plan anticipates a job creation of about 1,700 positions, down from a previous estimate of 2,500.