Ford extends talks with Volkswagen and Mahindra to cut expenses

by SpeedLux
Ford Motor logo

With its stock trading close to a 6-year low late last month, Ford Motor CEO Jim Hackett gathered the automaker’s top 300 executives close to its headquarters located in Michigan for a global leadership meeting.

Hackett’s message: Ford should put in motion plans to restructure its business now in order to secure promised expenses savings, Ford executives present at the meeting stated.

“We have clarity of purpose and now it’s time to take action,” Hackett informed Reuters in an interview.

A major part of that plan to save money calls for the automaker to deepen partnerships with other automakers across the world to share factory floor capacity and make vehicles together, Ford executives informed Reuters.

Specifically, they stated Ford is engaged in discussions with Volkswagen AG and Mahindra regarding expansion of product and technology alliances.

With Volkswagen, discussions are aimed at how to expand a commercial vehicle tie-up they earlier announced to include collaboration in South America and Europe – where Ford is losing money – and co-develop other kinds of vehicles, according to a Volkswagen executive and two sources knowledgeable with Ford’s thinking who asked not to be identified.

Pablo Di Si, chief executive for Volkswagen in Latin America, informed Reuters the companies are learning a partnership in Brazil and the talks are “advancing positively,” although he did not anticipated an announcement until next year.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.


SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.


©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More