Ford boosts investment plan for EVs and self driving vehicles, reports loss

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IslamNews – Ford Motor Co on Thursday boosted the amount of money it plans to invest on electric and autonomous vehicles to $29 billion even as it posted a fourth-quarter net loss of $2.8 billion
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The No. 2 U.S. automaker also said the global semiconductor chip shortage could lead to a 10% to 20% loss in first-quarter production.

For the year, Ford reported a net loss of $1.3 billion, or 32 cents a share, compared with a modest profit the previous year of 1 cent a share.

Ford had a loss in the fourth quarter of $2.8 billion, or 70 cents a share, compared with a loss of $1.7 billion, or 42 cents a share, a year earlier.

Source: Reuters

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