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The Independent UK
The Independent UK
National
Tom Krisher

Ford says EV unit losing billions, should be seen as startup

Copyright 2021 The Associated Press. All rights reserved.

Ford Motor Co.'s electric vehicle business has lost $3 billion before taxes during the past two years and will lose a similar amount this year as the company invests heavily in the new technology.

The figures were released Thursday as Ford rolled out a new way of reporting financial results. The new business structure separates electric vehicles, the profitable internal combustion and commercial vehicle operations into three operating units.

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