Ford is the first major automaker to report earnings since Trump signed an executive order stating that the U.S. would impose 25% tariffs on goods from Mexico and Canada, which would affect Ford.

Ford is projecting its electric car business will lose another $5.5 billion dollars this year.That figure matches last year’s deficit and eclipses the $4.7 billion the company lost building EVs in 2023—so for those of you keeping track at home that's a projection of roughly $15 billion in losses.

Ford’s electric vehicle and software business lost $5.1 billion in 2024, up from $4.7 billion lost in 2024. And the automaker doesn’t anticipate any relief this year, when it predicts it will lose as much as $5.

Ford Motor on Wednesday projected up to $5.5 billion in losses on its electric vehicle and software operations this year, a loss similar to last year and a sign of the severe difficulties in cutting costs on battery-powered models.