Michael Martinez

Starting in 2025, Ford EVs will be built with Tesla's North American Charging Standard ports, removing the need for an adapter.

Although electric vehicles are expected to eat into combustion vehicle sales eventually, a top Ford executive projected strong ICE and hybrid sales "well into the next decade."

Ford's adjusted earnings before interest and taxes rose 45 percent to $3.4 billion. A majority of that — $2.6 billion — came from Ford Blue, the company's gasoline-powered business.

The EV losses will mount as the company expects increased profits for its internal combustion and commercial vehicle businesses.

Ford will offer the less-expensive lithium iron phosphate chemistry on its Mustang Mach-E this spring and on the F-150 Lightning next year.

Third-year CEO Jim Farley is pleased by the reception to Ford’s EVs and connected vehicle software but frustrated by long-standing cost and quality issues weighing down the company.

The plant is slated to open in 2026 as a wholly owned Ford subsidiary using technology from partner CATL, based in China. The UAW is expected to organize the plant's 2,500 workers through a card check process.

CEO Jim Farley and CFO John Lawler are among those receiving 90 percent of their bonus target, while other salaried employees will get 148 percent.

Ford must decide how many employees it needs in Europe and the company will decide soon on how to restructure its European business, CEO Jim Farley said.

The automaker plans to increase production of the electric crossover this year by 67 percent to cement its position as the No. 2 EV maker in the U.S.

Current and former Europe presidents Stuart Rowley and Steve Armstrong and the head of the U.S.-focused Lincoln brand, Joy Falotico will leave the company.

The automaker is giving longtime executives John Lawler, Lisa Drake, Jim Baumbick expanded roles as it adds talent with "Silicon Valley credentials."

Ford reaffirmed full-year 2022 guidance of $11.5 billion to $12.5 billion in adjusted EBIT, which would be 15 to 25 percent more than it earned in 2021.

The seventh-generation pony car, available next summer, features a redesigned interior aimed at attracting younger buyers.

Ford says its retailers have sold more than 1 million factory-backed accessories for the Bronco and Bronco Sport utilities, with customers spending an average of $1,700 to accessorize their Bronco.