When Ford revealed plans to spend more than $11 billion on the fledgling electric vehicle sector, the automaker chose two states where Republican leaders have criticized the push for green energy and defended fossil fuels.
The company said 70,000 customers have put down $100 deposits to reserve an electric F-150 in the week since it was unveiled. Ford’s F-Series pickup is the top-selling vehicle in the U.S.
Ford is taking a significant risk by sinking so much capital into an electric version of a pickup that commands a huge and loyal following. In a typical year, Ford sells about 900,000 F-series trucks. It has been America’s top-selling vehicle for nearly four decades.
The plants would reopen in early or mid-April, restoring the largest source of cash for automakers that generally book revenue when they ship vehicles to dealerships.
General Motors—which hopes to make ventilators in Kokomo—and Ford Motor Co. are among automakers that are throwing their design and production prowess behind two other manufacturers’ efforts to build more ventilators and respirators for health care workers and first responders.
The four-year agreement gives workers a mix of pay raises and lump-sum payments as well as a $9,000 ratification bonus.
Next week, Ford will show off an electric SUV that is inspired by the Mustang performance car. It’s the company’s first consumer-friendly fully electric vehicle, and it’s expected to have a range of over 300 miles per charge.
The agreement likely will mirror the pact approved last week by General Motors workers after a 40-day strike.
The move announced Tuesday means that GM will be the focus of bargaining, and any deal with the company will set the pattern for Ford and Fiat Chrysler. It also means that if the union decides to go on strike, it will be against GM.
Journey Holding Corp.—formed this year through the merger of fast-growing Indianapolis-based tech company DoubleMap Inc. and Salt Lake City-based Ride Systems LLC—is being acquired by a transit-systems technology unit of Ford Motor Co.
Ford confessed in February to having taken a flawed approach to using road-load specifications to simulate how aerodynamic drag and tire friction can affect the fuel economy of its vehicles outside testing labs.
Ford is sinking a half-billion dollars into electric vehicle startup Rivian in a deal that has the companies working together on a new Ford electric vehicle based on Rivian underpinnings.
Ford Motor Co. will export vehicles from China to the U.S. for the first time starting in 2019. It also plans to make new aluminum-sided Ford Expedition and Lincoln Navigator SUVs in Louisville, securing 1,000 jobs at the plant.
The departure of Mark Fields comes amid sharp criticism of Ford's strategy by shareholders, and a more than 30 percent plunge in the company's stock price during his tenure.
Ford is canceling plans to build a new $1.6 billion factory in San Luis Potosi, Mexico, and will instead invest some of that money in a U.S. factory that will build new electric and autonomous vehicles.
The increases showed that Americans are still buying cars and trucks in big numbers, despite predictions by some analysts and dealers that sales have peaked.
Automakers posted big U.S. sales gains in February as consumers returned to showrooms after a snowy January.
General Motors, Ford, Nissan and Chrysler all reported big gains as the major automakers reported July sales Friday.
U.S. car buyers came out of hibernation in April to spend on pickup trucks and SUVs, fueling an auto sales rebound that analysts expect to last the rest of the year.
From mini cars to monster pickups, sales of vehicles charged higher in June and eased concerns that Americans would be turned off by slower hiring and other scary headlines.
