Ford Expects to Lose $3 billion on EV Sales this Year

•    Ford expects to lose $3 billion in 2023 with sales of its electric models.

•    However, profits from sales of other types of vehicles will keep the company in the black this year.

•    Ford is confident that EVs will soon be profitable.

Electrification is costly for traditional manufacturers and it will take some time to reach profitability. Ford reported this week that it will lose $3 billion (USD) on electric vehicle sales to consumers this year. 

Despite this, the company still expects to meet its profit targets for this year of between $9 billion and $11 billion.

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