Ford this week released its financial results for the third quarter of 2026, revealing that its Model e EV division is still hemorrhaging money. However, the losses are getting smaller, a trend Ford said should continue through 2029, when it expects to finally break even in its EV business.

 

Ford established its Model e division in 2022 to oversee all EV operations, alongside separate Blue and Pro divisions for its traditional internal-combustion vehicles and commercial vehicles, respectively. In the three months ending September, Model e reported a $1.1 billion loss, which sounds bad, but was actually an improvement of 25% year over year.