US auto producers Ford and GM both highlighted their expected progress in the EV space in their full-year 2021 earnings, Kallanish reports. 

Ford reiterated its commitment to double EV production to 600,000/year by 2023. The company earned $17.9 billion in 2021, up from a loss of $1.3 billion in 2020. 

“We’re also proud that customers see how Ford is taking EVs mainstream, and have already ordered or reserved more than 275,000 all-electric Mustang Mach-E SUVs, F-150 Lightning pickups and E-Transit commercial vehicles – and we’re breaking constraints to deliver every one of them as fast as we can,” says ceo Jim Farley. 

GM ceo Mary Barra told investors in a note that the company is betting on EVs and autonomous vehicles - represented by its Cruise driverless rideshare service and its Brightdrop autonomous delivery service - to drive the company’s future growth. 

“By going all-in to build an EV and AV ecosystem, we are expanding the scale, scope and profitability of our business, and extending our transportation leadership into the future,” she says. “With Ultium-based vehicles arriving now and Cruise on the cusp of generating revenue, the door is opening to a more sustainable, equitable future for all our stakeholders. As we move through the year, the massive scale of our transformation and the value it will deliver will become even more clear.”

GM earned $10 billion in 2021, up from $6.43 billion in 2020.