Ford's gasoline vehicles head to take on expanded role of leading EV unit

DETROIT: Ford says the president of its gasoline vehicles business, Andrew Frick, would take on the additional role of leading its money-losing electric vehicle business.

The company also said that Frick would continue to oversee Ford's commercial vehicles unit until a new leader is named.

Frick has been with Ford since 1995. Previously, he managed Ford Blue’s sales and distribution functions, trucks and SUVs, and operations in Mexico and Canada.

Earlier roles included vice president, Sales, for the US and Canada; director of US Sales; and director, Marketing, where he led the implementation of the Ford brand communications and product marketing strategic plan.

Ford on Wednesday projected up to US$5.5 billion (RM24.4bil) in losses on its electric vehicle and software operations this year, a loss similar to last year and a sign of the severe difficulties in cutting costs on battery-powered models.

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 US$1.8 billion (RM8bil), up from a loss of US$500 million (RM2.2bil) in the year-ago quarter as pension-related costs weighed on results.

Ford's chief executive, Jim Farley, has been seeking to follow up a choppy 2024 with more consistent results, in a year that is already shaping up to be marred by swings in US policy.

The Dearborn, Michigan, automaker is working to overcome persistent quality issues and lift its stock price which declined by 18% last year.

It now faces uncertainty around US President Donald Trump's threatened tariffs on Mexico and Canada. If implemented, the measures would boost the automaker's raw material costs and likely hurt sales demand.