Ford revealed in its latest earnings report that its Model e electric vehicle division is expected to see losses above $5 billion in 2025, similar to last year.

Ford warned that profit may fall by $2 billion or more in 2025 on lower vehicle prices and costly new-model launches, adding to risks posed by potential new tariffs and dimming demand for plug-in cars.

The automaker forecast overall profitability for 2025, but even that was lower than in 2024. For the fourth quarter, it reported a net profit of $1.8 billion, up from a loss of $500 million in the year-ago quarter as pension-related costs weighed on results.