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Rani Molla

Ford slashes EV spending, kills plans for electric SUV

Ford is changing the roadmap for its electric vehicle strategy to focus more on profitability, downshifting EV spending to 30% of its capex budget from 40%. The move includes shifting some battery production to the US to capitalize on tax credits, pivoting more toward lower-priced and longer range vehicles, and scrapping a three-row electric SUV.

“We loved our three-row crossover,” CEO Jim Farley said. “But there was just no way it would ever meet our criteria of being profitable.”

Previously the company estimated it could lose $5.5 billion on its EV segment this year. In a press release, Ford mentioned a version of the word “profit” 10 times. Farley recently said that the company wouldn’t change its EV strategy based on who wins the upcoming election.

Ford Pulls Back Further From EVs With $1.9 Billion SUV Pivot

Ford Pulls Back Further From EVs With $1.9 Billion SUV Pivot

Previously the company estimated it could lose $5.5 billion on its EV segment this year. In a press release, Ford mentioned a version of the word “profit” 10 times. Farley recently said that the company wouldn’t change its EV strategy based on who wins the upcoming election.

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Max Knoblauch

Report: OpenAI won’t pay a dime in cash for its 3-year licensing deal for Disney IP

More financial details behind the landmark deal that will grant OpenAI three years of access to Disney intellectual property are coming out, and they’re pretty surprising.

The deal will reportedly see OpenAI pay zero dollars in licensing fees, instead compensating Disney in stock warrants. It was previously reported that Disney would invest $1 billion into OpenAI as part of the agreement.

It’s very abnormal for Disney to grant anyone access to its massive IP library without a cash payment, and the entertainment juggernaut has been known to strike down even crocheted Etsy Yodas for infringing on its turf. In its fiscal year 2025, Disney booked more than $10 billion in revenue from licensing fees across merchandising, television, and theatrical distribution.

OpenAI Deal to License Disney Characters Is Entirely in Stock

OpenAI Deal to License Disney Characters Is Entirely in Stock

It’s very abnormal for Disney to grant anyone access to its massive IP library without a cash payment, and the entertainment juggernaut has been known to strike down even crocheted Etsy Yodas for infringing on its turf. In its fiscal year 2025, Disney booked more than $10 billion in revenue from licensing fees across merchandising, television, and theatrical distribution.

business
Max Knoblauch

Ford says it will take $19.5 billion in charges in a massive EV write-down

The EV business has marked a long stretch of losing for Ford, and today the automaker announced it will take $19.5 billion in charges tied, for the most part, to its EV division.

Ford said it’s launching a battery energy storage business, leveraging battery plants in Kentucky and Michigan to “provide solutions for energy infrastructure and growing data center demand.”

According to Ford, the changes will drive Ford’s electrified division to profitability by 2029. The company will stop making its electric F-150, the Lightning, and instead shift to an “extended-range electric vehicle” that includes a gas-powered generator.

The Detroit automaker also raised its adjusted earnings before interest and taxes outlook to “about $7 billion” from a range of $6 billion to $6.5 billion.

Ford’s write-down is one of the largest taken by a company as legacy automakers scale back on EVs, giving EV-only automakers a market share boost.

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