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Ford Loses $1.28B in 2020, Raises EV Spending

Dealing with massive restructuring across the globe and a million dollar government-ordered recall of 2.7 million vehicles with deadly air bags, Ford announced a loss of $1.28 billion last year. Already looking to the future, the company is predicting a return to normal profits in 2021 and forecasting $8 billion in earnings which most notably includes a $900 million gain on its investment in electric vehicle startup Rivian. With plans on making an all-electric F-150 pickup next year, Chief Financial Officer John Lawler said "We're focused on making a difference now,". | Read more