Quotable: Ford’s EVs were disrupted because of upgrades

“Quarterly shipments of and revenue from EVs were limited by production interruptions of two highly popular vehicles: the Mustang Mach-E SUV, to make industrial changes that will nearly double manufacturing capacity, and the F-150 Lightning pickup, to isolate and address a battery issue before it became a problem for customers.” —Ford’s 1Q 2023 earnings report


Ford’s EV business, by the digits

$41.5 billion: Ford’s Q1 2023 revenue, up 20% from the same period a year ago as the supply chain recovers and demand rebounds


$1.8 billion: Ford’s net income in Q1 2023

$9 billion to $11 billion: Ford’s forecast of pretax profit for the year

$2.1 billion: How much Ford’s EV business lost on an operating basis in 2022—more than double the $900 million it lost the previous year


$4,000: The largest price reduction, of nearly 8%, was made to Ford’s premium standard range and GT all-wheel drive extended range models

$3 billion: Ford’s expected full-year loss for its EV unit in 2023

8%: The adjusted operating margin that Ford forecasts for the Ford Model e business by the end of 2026


2 million: EVs Ford plans to produce annually around the world by 2026

33 minutes: How long Ford’s new range models Mustang, equipped with lithium iron phosphate (LFP) batteries, will take to fast charge from 10% to 80%—an improvement of five minutes


A non-exhaustive list of what Ford is doing to boost EV capacity

🛻 Construction at the $5.6 billion BlueOval City mega-campus in Stanton, Tennessee, is on track to commence production by 2025. That’s where Ford Model e will manufacture its next-generation electric pickup.


🏭 Ford is transforming an existing operation in Ontario, Canada, to produce batteries and next-generation EVs.

🔋 The carmaker is constructing and staffing an LFP battery plant in Marshall, Michigan.


Related stories

🔋Ford doesn’t think its EV business will be profitable for at least another year


🛑 Ford is dropping production of its most popular car to focus on EVs

🚗 Ford has found the source of F-150 Lightning’s problem

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