DETROIT — Ford Motor Co. lost $1.28 billion last year as it dealt with a huge restructuring, a costly recall and a decline in the value of its pension fund.

But the company said Thursday it is generating strong cash flow and will go all-in on electric vehicles. Ford said it would now spend at least $22 billion developing them through 2025, nearly double what it previously announced.

The automaker said that excluding one-time items, it made 41 cents per share for the year.