Ford Motor Co., which was financed and founded in 1903 on the racetrack, announced Friday that it’s making another strategic bet on its future by returning to Formula 1. The global competition, which has been spotlighted by the popular Netflix series, “Drive to Survive,” is seeing a rise in popularity here in the U.S. And… Continue reading Ford returns to the most prestigious motorsport globally: Formula 1
Category: US Motoring Press
Ford’s Jim Farley addresses automaker’s financial struggles, plans to slash costs
This content is only available to subscribers. Get unlimited digital access. $1 for 3 Months. Subscribe Now Your subscription supports: Unlimited access to subscriber only articles on desktop, tablet and mobile web. The eNewspaper, a digital replica of the print paper, every day. Access to exclusive sports reporting on your local teams from USA TODAY… Continue reading Ford’s Jim Farley addresses automaker’s financial struggles, plans to slash costs
Ford CEO: ‘I’m frustrated’ with 2022 earnings that fell short by some $2B
Ford Motor Co. on Thursday reported 2022 adjusted earnings before interest and taxes (EBIT) of $10.4 billion, up from $10 billion in 2021. For the fourth quarter alone, Ford reported EBIT of $2.6 billion compared with $2 billion a year ago. John Lawler, Ford chief financial officer, said in a news media call the company… Continue reading Ford CEO: ‘I’m frustrated’ with 2022 earnings that fell short by some $2B
Investor Lawsuit Against Elon Musk and Tesla Goes to a Jury
The case centers on whether investors lost money because they believed Mr. Musk’s social media posts about taking Tesla private in 2018. Go to Source
Ford sold 91 million shares of EV startup Rivian last year
RJ Scaringe, Rivian founder and CEO, and Ford Executive Chairman Bill Ford announce a $500 million Ford investment in Rivian. Source: Ford Motor Co. DETROIT – Ford Motor liquidated most of its ownership stake last year in electric vehicle maker Rivian Automotive, according to the Detroit automaker’s annual report submitted to the Securities and Exchange… Continue reading Ford sold 91 million shares of EV startup Rivian last year
Ford’s CEO needs to deliver by next quarter, or we’re moving on from the stock
Ford Motor (F) CEO Jim Farley said the automakers’ messy fourth quarter was a function of its transition to a new business structure that limited production capacity, combined with poor execution. But we remain disappointed in the results and need to see an increase in profitability to stick with the stock after the next quarter.… Continue reading Ford’s CEO needs to deliver by next quarter, or we’re moving on from the stock
Biden administration expands EV tax credits in boost for Tesla, Cadillac, others
A Tesla Model Y on display inside a Tesla store at the Westfield Culver City shopping mall in Culver City, California, U.S., on Thursday, April 14, 2022. Bing Guan | Bloomberg | Getty Images DETROIT – The U.S. Treasury said Friday it is changing its definition of an “SUV” to make more electric vehicles from… Continue reading Biden administration expands EV tax credits in boost for Tesla, Cadillac, others
Ford CEO Jim Farley’s frustration builds as he vows to transform the automaker
watch now Ford CEO Jim Farley is frustrated. The company’s fourth-quarter earnings on Thursday missed analyst expectations by a wide margin, as costs and supply chain issues again hurt Ford’s bottom line, Farley knows his company needs to change. related investing news “We have to change our cost profile,” Farley told CNBC after a call… Continue reading Ford CEO Jim Farley’s frustration builds as he vows to transform the automaker
Chinese Tesla rival Xpeng launches flagship EVs in Europe in international push
Xpeng is pushing aggressively into international markets. The Chinese electric car start-up launched its P7 sedan and G9 SUV in Denmark, Norway, the Netherlands and Sweden. Zhang Peng | LightRocket | Getty Images Xpeng, a Chinese electric vehicle startup, on Friday launched two of its flagship cars across a number of European countries, as it… Continue reading Chinese Tesla rival Xpeng launches flagship EVs in Europe in international push
Rivian developing an electric bike
Rivian Automotive Inc. is developing an electric bike, the chief executive officer told staff, potentially expanding the EV maker’s product lineup. RJ Scaringe disclosed the e-bike effort Friday at a companywide meeting, according to people familiar with the matter who asked not to be identified discussing private information. A small group of engineers is actively… Continue reading Rivian developing an electric bike