Ford Motor lost $4.8 billion on its electric vehicle lines in fiscal year 2025. 

Over the past few years, the company has reported losses on its EV lines every quarter. During the company’s earnings call Tuesday, Sherry House, Ford’s chief financial officer, said Ford doesn’t expect to break even on the Model-E division until fiscal year 2029. 

In the fourth quarter of 2025, the company reported a loss of $1.2 billion on the Model-E division, down from $1.4 billion in the same quarter the previous year. The year-end losses for fiscal year 2025 were down from $5.1 billion in 2024. 

Ford sold 178,000 electric vehicles in fiscal year 2025, up from 105,000 in 2024. This brings the loss per EV in the last fiscal year to nearly $27,000.