Ford CFO: We are ‘refounding’ the company, cutting costs to make EV business profitable
"Our cost structure is not competitive," Ford CFO John Lawler said on."We know that we [have] about $7 billion to $8 billion that we could take out and improve our competitiveness, and you will see that start to take hold as we get through the rest of the year, into 2024, and beyond."
As Lawler pointed out, Ford could take out $7 billion in costs from its legacy auto business to help fuel its EV ambitions and bolster overall profit margins.
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