New Ford CEO Jim Farley eyes expansion into tech fields

Jim Farley

Ford Motor incoming CEO Jim Farley said on Tuesday he wants to expand the automaker’s operations into relevant technology fields, including software, fleet management, and electric vehicle charging. “These are new growth initiatives that could create a lot of value for the company,” Farley informed Reuters, after the automaker announced that he will succeed Jim […]

Ford reports improved performance in Chinese market during 2019

Ford Motor logo

Ford has reported improved performance in China for the last quarter and the whole year of 2019, regardless market headwinds. According to Ford’s 4th quarter 2019 and full-year financial results published this week, the adjusted Q4 revenues before interest and taxes (EBIT) were 485 million dollars, dropping 67 percent, with improved results in China and […]

Ford shares drop following release of fourth-quarter loss

Ford logo in their auto plant

Investors sent Ford Motor shares skidding after the company posted a 2020 forecast, warning of higher warranty costs, lower profits at its credit arm and continued spending in future technology such as autonomous cars. Shares in Ford dropped 9.4% in after-hours trading, shaving over $3 billion off the company’s value. In comparison, electric automaker Tesla […]

Ford extends talks with Volkswagen and Mahindra to cut expenses

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 plans to invest $11 billion in 40 electrified vehicles by 2022

Jim Hackett and Bill Ford presents 2019 ford ranger during the ford press january 14 2018

Ford Motor will considerably increase its scheduled investments in electric vehicles to $11 billion by 2022 and have 40 hybrid and completely electric vehicles in its model lineup, Chairman Bill Ford stated during Detroit auto show. The investment figure is sharply higher than a previously revealed target of $4.5 billion by 2020, Ford executives stated, […]