Ford Reports Electric Vehicle Business Lost $2 Billion in 2022

Ford Motor Company unveils its new electric F-150 Lightning outside Ford headquarters in Dearborn, Mich., on May 19, 2021. Jeff Kowalsky/AFP via Getty Images

The Ford Motor Company revealed that its electric vehicle (EV) business, the Model e, took a $2.1 billion loss over the course of 2022 and the company predicted that it will lose another $3 billion in 2023 as the company invests further in the project.

The loss of about $2.1 billion for Ford EVs in 2022 adds to an approximately $900 loss from 2021.