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Ford to take a huge loss on its electric vehicle overhaul

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4 months ago

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Matt Miller, Host of Bloomberg ‘Open Interest’ breaks down the latest from Ford as the company moves forward with a sweeping overhaul of its EV business.

Ford Motor Co. will take $19.5 billion in charges tied to a sweeping overhaul of its electric vehicle business after struggling for years to make it profitable.
The majority of the charges will come in the fourth quarter, Ford said Monday in a statement. As part of the strategic shift, the automaker is canceling a planned electric F-Series truck, shifting production toward gas and hybrid vehicles and repurposing an EV battery plant.
Ford will also convert its signature electric F-150 Lightning pickup into an extended-range hybrid vehicle.
The magnitude of asset impairments and write-downs is a testament both to the degree of difficulty Ford has had trying to profitably build and sell EVs, and the extent to which US President Donald Trump’s policy changes will only exacerbate those challenges.
In taking the charges, Ford is acknowledging it built far too much battery production capacity and was going down a dead-end with large EVs that were destined to lose more money.
The moves will make Ford’s EV operations profitable by 2029, Andrew Frick, head of the unit, told reporters in a briefing. The division lost $5.1 billion last year and the company expects losses could be worse this year.
“It didn’t make sense to keep plowing billions into products that we knew would not make money,” Jim Farley, Ford’s chief executive officer, said in an interview on Bloomberg TV. “We had to make this choice.”
The automaker boosted its 2025 guidance to $7 billion before interest and taxes, up from a prior estimate of $6 billion to $6.5 billion. Farley attributed the increase to the progress Ford has made in lowering costs and its move “to more profitable vehicles.”
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US, Iran Weigh More Talks; United Pitches Tie-Up with American Airlines | Bloomberg Brief 4/14/2026

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6 hours ago

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April 16, 2026

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US equity futures rise and oil slips on optimism as the US and Iran consider another round of peace talks. United CEO Scott Kirby …

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Dimon Warns on Economy and AI | Open Interest 4/14/2026

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12 hours ago

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April 16, 2026

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Get a jump start on the US trading day with Matt Miller and Dani Burger on “Bloomberg Open Interest.” Iran signals a possible pause in Strait of Hormuz shipments, aiming to cool tensions and keep peace talks alive—while markets brace for the ripple effects. Big banks deliver a mixed bag: strong trading, cautious outlooks, and Jamie Dimon warning on geopolitics, the Fed, and AI. An airline mega-deal could shake up global travel as United eyes American, setting up a regulatory showdown. Plus, Christine Lagarde joins us exclusively as global leaders confront a fresh economic shock. And inside J&J’s next blockbuster drug, plus Rolls-Royce’s $5 million vision of ultra-luxury.

Chapters:
00:00:00 – Open Interest
00:03:31 – JP Morgan Sets Firm-WIde Record for Trading Revenue
00:06:43 – US March Producer Prices Rise 0.5% M/M; EST. +1.1%
00:12:13 – Scott Bessent Speak at Institute of International Finance
00:34:02 – Lori Heinel State Street | Stocks Rise, Oil Falls on Optimism for Iran Deal
00:42:00 – Top Calls | Tesla, Steel, Blackrock
00:43:28 – David George Baird | Dimon | Dealing with Increasingly Complex Set of Risks
00:48:09 – United CEO Pitched Possible Tie-Up with American
00:52:41 – Christine Lagarde ECB President | Speaking at Institute of International Finance
01:18:59 – Chris Brownridg, Rolls-Royce Motor Cars | “Project Nightgale”
01:28:44 – Joe Wolk Johnson & Johnson | J&J Share Waver as Analysts Tout High Bar For 1Q
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Shallow Losses for Stocks Despite Hormuz Blockade: 3-Minutes MLIV

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16 hours ago

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April 16, 2026

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Anna Edwards, Guy Johnson, Tom Mackenzie and Adam Linton break down today’s key themes for analysts and investors on “Bloomberg: The Opening Trade.”

Chapters:
00:00:00 – MLIV
00:00:01 – Iran War Escalation, Strait of Hormuz Blockade
00:01:03 – Brent Crude, Oil & Gas Prices
00:02:04 – Bond Market, Rate Hikes
00:02:49 – Earnings Season
——–
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Iran war has been a failure for Trump, says Nouriel “Dr. Doom” Roubini

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18 hours ago

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April 16, 2026

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Nouriel Roubini, chairman of Roubini Macro Associates, says the war in Iran has been a disaster for President Donald Trump, but he will most likely need to finish the job.

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Hungary Election: Surveys Point to Shift Away From Orban

Published

19 hours ago

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April 16, 2026

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As Hungary prepares for parliamentary elections on Sunday, Prime Minister Viktor Orban addressed the nation saying he was the safe bet and that ousting him after 16 years in office would imperil the country. Meanwhile, independent surveys show Peter Magyar’s Tisza party opening up a lead. Bloomberg’s Oliver Crook reports from Budapest.
——–
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