Ford's EV division projected to lose billions in 2022.
Ford's electric vehicle unit lost $2.1 billion in 2021, but the loss was offset by $10 billion in operating profit from its internal combustion and fleet businesses. The company expects a similar pattern in 2023, with an adjusted loss of $3 billion for its EV unit, adjusted earnings of about $7 billion for its internal combustion unit, and adjusted earnings of roughly $6 billion for its fleet business. The new financial reporting structure aims to give investors a better understanding of how Ford's electric vehicle business is evolving and how profits from its internal combustion businesses are funding its electric transformation.