CNBC's Phil LeBeau joins 'Power Lunch' to report on Ford and its plans for profitability in the EV business.
Ford forecast a drastic turnaround for its electric vehicle unit, reiterating that it expects its EV business to be solidly profitable by the end of 2026.
By almost any metric or comparison, Rivian spends more money that peers.
But the company expects its first generation of EVs, including the F150 Lightning and Mustang Mach E, to be profitable on a pretax basis by the end of 2024.
Yahoo Finance's Pras Subramanian joins the Live show to break down Ford's financial report, expected losses on EV business, and how the automaker is transforming.
Ford Motor Co expects its electric vehicle business unit to lose $3 billion this year, but remains on track to achieve a pretax margin of 8% by late 2026, the company said.
The auto maker's electric-vehicle business has lost about $3 billion over the past two years combined. But Ford believes billions in EV profits lie just around the bend in the road.
Ford's popular electric vehicles like the Mustang Mach-E and F-150 Lightning aren't making the company any money.
Ford CFO John Lawler joins 'Squawk Box' to discuss when Ford's electric vehicle business will become profitable, how Lawler would counter those who disagree with Ford's growth strategy, and more.

Ford Motor Reveals Financial Details of EV Unit

09:05am, Thursday, 23'rd Mar 2023
Ford Motor Company (NYSE:F) today revealed financial details that could give Wall Street a better understanding of how profitable its evolving electric vehicle (EV) business is.

Ford EV business to post $3bln loss in 2023

09:04am, Thursday, 23'rd Mar 2023
Ford Motor Company (NYSE:F) expects its electric vehicle (EV) business to lose $3bln this year but affirmed that it remains on track to achieve its objective of an earnings before interest and taxes (
Ford said it will lose $3 billion on its sales of electric vehicles to consumers this year, but it still expects to hit the profit targets it set for this year of between $9 billion and $11 billion.

New Strong Sell Stocks for March 23rd

08:22am, Thursday, 23'rd Mar 2023
BFAM, F and NMRK have been added to the Zacks Rank #5 (Strong Sell) List on March 23, 2023.
Any question of what business sector is — and is not — profitable at Ford is no longer a mystery.
Ford Motor Co.'s electric vehicle business has lost $3 billion before taxes during the past two years and will lose a similar amount this year as the company invests heavily in the new technology.
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