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Stock impact report

Ford's $19.5 billion EV writedown: five things to know [Yahoo! Finance]

Ford Motor Company (F) 
Last ford motor company earnings: 4/28 04:09 pm Check Earnings Report
US:NYSE Investor Relations: shareholder.ford.com
Company Research Source: Yahoo! Finance
sign to date of the auto industry's pullback from a technology carmakers wholeheartedly embraced early this decade. Much of ?that sum reflects expenses related to canceling fully electric models that had been years in the making. Ford is ?shifting much of its focus to expanding conventional gas models as well as hybrid vehicles in an effort to better match the preferences of American car buyers. Here ?are some notable aspects of Ford's announcement: WHAT'S IN THE WRITEDOWN? About $8.5 billion is tied to costs associated with killing several future EVs, including a planned large pickup truck that was to be built in Tennessee. Ford also is writing down $6 billion from a joint-venture battery operation with South Korea's SK On – that company announced the end of the partnership last week. Ford described another $5 billion as “additional program-related expenses.” Of the total charges, ?only about $5.5 billion will impact cash, which Ford ?said would be incurred next year and in Show less Read more
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