Ford Lost $2 Billion in 2022 as Some Investments Soured

Ford Motor said on Thursday that it lost $2.2 billion in 2022 as it wrote down the value of two big investments and struggled with high costs and supply chain problems. The company wrote down its investments in Rivian, a young electric truck maker, by $7.4 billion and Argo AI, a company developing autonomous vehicles, by $2.8 billion last year. The automaker said its revenue had risen about 16 percent, to $158 billion, mainly because of higher car prices. The company sold 4.2 million vehicles worldwide, up from 3.9 million in 2021. Ford has long struggled to reduce defects and recalls in its cars and trucks.