Ford CFO Cutting Costs to Make EV Business Profitable

 

Ford's Chief Financial Officer (CFO), John Lawler, has announced plans to "refound" the company and make its electric vehicle (EV) business profitable by cutting costs.

Lawler stated that the company is focusing on its core operations and is committed to generating strong revenue growth and free cash flow.

He emphasized that the company is not just relying on government incentives to support its EV business but is working towards sustainable profitability.

Lawler's comments come as Ford is preparing to invest heavily in electric and autonomous vehicles, with plans to spend $22 billion on EVs through 2025.

The company aims to have 40% of its global sales come from EVs by 2030. In addition to cost-cutting measures, Ford is also focusing on improving its supply chain and increasing manufacturing efficiencies to make its EV business more profitable.

Overall, Ford's CFO is optimistic about the company's future and believes that its focus on core operations and profitability will enable it to succeed in the competitive EV market.