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.
. Ford's plan to bring those costs down further centers on bringing battery-cell manufacturing in-house, either directly or via joint ventures with battery makers. In addition, it will soon begin offering LFP as a lower-cost option on some of its EVs — starting later this year with cells bought from
Not all of those margin gains will take years to materialize. Lawler said that Ford thinks it can still reduce the costs of making its current first-generation EVs — the Mustang Mach-E crossover, F-150 Lightning pickup and E-Transit van — by incorporating lessons it's learning as it engineers its second-generation models, which are due to launch over the next few years.
"We believe investors are likely to remain skeptical on the path to appropriate margins, especially amid inflationary headwinds and price declines," Barclays' Dan Levy said in a note following the event. Part of that near-term help may come from the Inflation Reduction Act, which provides company-level credits for making batteries and vehicles in North America, as Ford plans to do with the EVs it sells here. But as Deutsche Bank analyst Emmanuel Rosner pointed out on Thursday, Ford's 8% margin goal was announced "well before IRA.
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