It lost $5.1 billion in 2024 and estimates it'll lose even more this year. Electric vehicles are still generally unprofitable due to the high costs associated with making batteries, which remain the priciest component of an EV.

Ford’s F-150 Lightning is losing ground in the US with new electric pickups like the Tesla Cybertruck and Chevy

For the full year of 2024, Ford posted a net income of $5.9 billion on adjusted earnings of $10.2 billion. Its electric vehicle business, however, lost $5.1 billion, even worse than its loss of $4.7 billion the year prior.