Ford Motor Co will significantly increase its planned investments in electric vehicles to $11 billion by 2022 and have 40 hybrid and fully electric vehicles in its model lineup, Chairman Bill Ford said on Sunday at the Detroit auto show. The investment figure is sharply higher than a previously announced target of $4.5 billion by […]
Read More Leading carmakers including Volkswagen and Toyota pledged on Wednesday to uphold ethical and socially responsible standards in their purchases of minerals for an expected boom in electric vehicle production. Demand for minerals such as cobalt, graphite and lithium is forecast to soar in the coming years as governments crack down on vehicle pollution and carmakers […]
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The Wall Street Journal reports that Ford Motor Co. is planning substantial job cuts in order to boost profits and raise its stock price. The newspaper says the cuts would target salaried employees and would reduce Ford’s global headcount by an equivalent of 10 percent. Ford didn’t confirm the report Monday night. In a statement, […]
Read More Costly product recalls and lower sales took a bite out of Ford’s first-quarter profit. Ford Motor Co.’s net income fell 35 percent to $1.6 billion, or 40 cents per share, in the first quarter. The Dearborn-based automaker had warned investors and analysts to expect weaker results in the January-March period. Ford earned a record pretax […]
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Indications arises that Ford Motor Company has suspended its planned exportation of 500 units of vehicles meant for the Nigerian market owing to the current economic recession. The United States automaker was said to have assembled the vehicles in its South African factory and completed all arrangements to ship them to Nigeria before halting the […]
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