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Ford reports quarterly loss that tops $2 billion, increases investment in electric vehicles

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Ford Motor Co. late Thursday reported a wider-than-expected quarterly loss, but the stock traded higher as Wall Street focused on the auto maker’s renewed push toward autonomous and electric vehicles.

Ford
F,
+3.20%
said it lost $2.8 billion, or 70 cents a share, in the quarter, compared with a loss of $1.7 billion, or 42 cents a share, in the year-ago quarter. Sales fell to $36 billion from $39.7 billion a year ago.

Analysts polled by FactSet had expected Ford to report a GAAP and adjusted loss of 7 cents a share on sales of $36.8 billion.

Ford said it

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Investment News

Ford reports loss in Q4, boosts investment in electric cars

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  • Ford reported its earnings for the final quarter of 2020 on Thursday. 
  • The automaker reported a $2.8 billion net loss in the fourth quarter. 
  • It also said it’s “doubling down” on electric vehicles, and committed billions to electrification.
  • Visit the Business section of Insider for more stories.

Ford on Thursday more than doubled the amount of money it plans to invest in electric and autonomous vehicles to $29 billion, even as it posted a fourth-quarter net loss of $2.8 billion.

The No. 2 US automaker also said the global semiconductor chip shortage could lead to a 10% to 20% loss

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