Ford Motor Co.’s electric vehicle business lost $3 billion before taxes during the past two years and will lose a similar amount this year as the company invests heavily in the new technology.

The figures were released Thursday as Ford rolled out a new way of reporting financial results. The new business structure separates electric vehicle, internal combustion and commercial vehicle operations into three operating units.

Company officials said the EV unit, called “Ford Model e,” will be profitable before taxes by late 2026 with an 8% pretax profit margin. But they wouldn’t say exactly when it’s expected to start making money.

[Yeah, I’ll BET they wouldn’t and they also won’t say precisely how much in government subsidies are keeping the whole scheme afloat. Because those are the only things that are. ~ Beege]