Ford is investing approximately $900 million in its southeast Michigan manufacturing footprint and targeting 900 incremental direct new jobs through 2023 This includes the company’s plan to expand production capacity at Flat Rock (Mich.) Assembly Plant – including next-generation fully electric vehicles – targeting to invest more than $850 million through 2023 and adding a… Continue reading Ford Adds 2nd North American Site to Build Battery Electrics; Michigan Workers to Make Its First Autonomous Vehicles
Tag: People
Optimus Ride brings self-driving cars to private communities in NY and CA
If you live in the Brooklyn Navy Yard, you could be one of the first consumers to ride in a self-driving car in the state of New York. That’s thanks to autonomous vehicle startup Optimus Ride, which today announced its plans to deploy self-driving vehicles to the 300-acre development in Brooklyn. The development houses 400… Continue reading Optimus Ride brings self-driving cars to private communities in NY and CA
UPDATE 3-BMW plans to cut costs after warning on profits
MUNICH (Reuters) – BMW expects group pretax profit to fall by more than 10 percent this year and plans a sweeping 12 billion euro ($13.6 billion) savings and efficiency plan to help offset higher technology investment and currency costs. The German carmaker last week reported a 7.9 percent fall in 2018 operating profit and said… Continue reading UPDATE 3-BMW plans to cut costs after warning on profits
Ford adds production of electric vehicles at second North American site
DETROIT (Reuters) – Ford Motor Co said on Wednesday it is adding production of a fully electric vehicle at a second North American plant as part of its $11 billion investment plan set last year. FILE PHOTO: The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15,… Continue reading Ford adds production of electric vehicles at second North American site
Ford to build new factory in Michigan for autonomous vehicles
Bill Pugliano | Getty Images
Workers build a truck as it goes through the assembly line at the Ford Kentucky Truck Plant in Louisville, Kentucky.
Ford is building a new plant in Michigan for autonomous vehicles as the company realigns some factories to focus on its future lineup of self-driving and electric cars.
The new facility, scheduled to open in the next two years, will take new commercial-grade hybrid models and incorporate the self-driving technology needed to turn them into autonomous vehicles. Ford is still considering where to build the AV finishing center and has not said how many people will work there.
“This facility will be about more than just putting the brains into these autonomous vehicles,” said Joe Hinrichs, Ford's president of global operations. “We will use the AV production center to upgrade the interiors and add the technology customers will want for a particular self-driving model.”
The new autonomous vehicle, or AV, facility is part of a $900 Million investment Ford announced in 2017 to restructure its manufacturing footprint in Michigan. Ultimately, it's expected to create up to 900 new jobs by 2023. That includes adding a second shift in 2023 at the company's final assembly plant in Flat Rock, Michigan to build an all-electric vehicle the company has yet to announce. That 2023 model is part of Ford's plan increase sales of electric vehicles, including a brand new electric SUV scheduled to roll out next year. It will be built at a Ford plant in Mexico.
Ford's development of autonomous and electric vehicles is at the core of CEO Jim Hackett's plan to remake the automaker. Since taking over as CEO in 2017, Hackett has been criticized by analysts for moving too slow to reposition Ford as the auto industry shifts to new technology and focuses more attention on electric vehicles. Earlier this year, Ford announced a partnership with Volkswagen to share the costs of develop AVs and EVs.
Hinrichs believes Ford's plan to expand production of electric vehicles in Michigan four years from now will be well timed for the changing tastes of car buyers. “We see more consumers interested in electric vehicles. Plus the capabilities of the batteries and the technology is getting better,” he said.
Statement and Presentation by Dr Nicolas Peter, Member of the Board of Management of BMW AG, Finance, BMW Group Annual Accounts Press Conference 2019
Ladies and Gentlemen, Good morning from me as well. The year 2018 once again demonstrated the financial and performance strength of the BMW Group. Despite massive headwinds, we reported the second-best result in our company’s history: for the past 15 years, we have now been the world’s leading premium car company. At 7.2%, our EBIT… Continue reading Statement and Presentation by Dr Nicolas Peter, Member of the Board of Management of BMW AG, Finance, BMW Group Annual Accounts Press Conference 2019
Statement and Presentation by Harald Krüger, Chairman of the Board of Management of BMW AG, BMW Group Annual Accounts Press Conference 2019
Good morning and welcome! Today, I would like to show you what sets the BMW Group apart from our competition. Let’s first take a look at the recent past, and then focus on the future. The BMW Group is successfully shaping the future of mobility. We are doing so by consistently charting our own course:… Continue reading Statement and Presentation by Harald Krüger, Chairman of the Board of Management of BMW AG, BMW Group Annual Accounts Press Conference 2019
Press Conference: BMW expects significant decline in profits – austerity measures tightened
BMW headquarters in Munich The carmaker has invested heavily in e-mobility and now has to save. (Photo: AP) HamburgThe car maker BMW aggravates austerity measures and reduces personnel due to high investments in electromobility and the weaker economy. The consolidated earnings before tax will probably be well below the previous year in 2019, the Munich-based… Continue reading Press Conference: BMW expects significant decline in profits – austerity measures tightened
UPDATE 2-Hydro working to restore operations after cyber attack
OSLO (Reuters) – Norsk Hydro, one of the world’s largest aluminum producers, has made some progress in restoring operations but is not yet back to normal after a ransomware cyber attack, the company said on Wednesday. A sign warning employees not to connect devices to the network in the wake of a cyber attack is… Continue reading UPDATE 2-Hydro working to restore operations after cyber attack
BMW warns of significant profit fall in 2019 seeks 12 billion euros in cuts
FILE PHOTO: The BMW logo is seen on the wheel of a vehicle presented at the Auto China 2016 auto show in Beijing, China, April 29, 2016. REUTERS/Damir Sagolj/File Photo MUNICH (Reuters) – BMW (BMWG.DE) on Wednesday said it expected group pretax profit to fall by more than 10 percent in 2019 and announced a… Continue reading BMW warns of significant profit fall in 2019 seeks 12 billion euros in cuts