Tag: Ford

BMW, Varta apply for funds in battery cell push for e-cars

HAMBURG/BERLIN (Reuters) – Luxury carmaker BMW and Germany’s Varta have both applied for state funding aimed at supporting battery cell production for electric vehicles, they said on Friday, hitting a deadline set by the German government. FILE PHOTO: The BMW logo is seen on the second press day of the Paris auto show, in Paris,… Continue reading BMW, Varta apply for funds in battery cell push for e-cars

UPDATE 1-BMW, Varta apply for funds in battery cell push for e-cars

HAMBURG/BERLIN (Reuters) – Luxury carmaker BMW and Germany’s Varta have both applied for state funding aimed at supporting battery cell production for electric vehicles, they said on Friday, hitting a deadline set by the German government. FILE PHOTO: The BMW logo is seen on the second press day of the Paris auto show, in Paris,… Continue reading UPDATE 1-BMW, Varta apply for funds in battery cell push for e-cars

Ford is cutting 5,000 jobs in Germany with more cuts coming for the UK

Oliver Berg | picture alliance | Getty Images
North Rhine-Westphalia, Köln: An employee installs a door in a Ford Fiesta at the Ford plant. The US car manufacturer Ford wants to cut 5000 jobs in Germany.

Ford is cutting 5,000 jobs in Germany and more in the U.K. as part of an effort to reduce costs in Europe, the company said Friday.

The automaker offered voluntary separation packages for employees in Germany and the U.K. to help accelerate its plan to improve performance in the region, where Ford has struggled. The total number of jobs affected in the U.K. have yet to be determined.

The automaker is undergoing a larger plan to restructure its operations worldwide, which it's said will cost $11 billion. Ford is reshaping its European business into three different business groups that focus on commercial vehicles, passenger vehicles, and imports. The carmaker plans to simplify its product lines and focus on the most profitable vehicles.

Ford said in January it plans to partner with German carmaker Volkswagen on a number of initiatives, including trucks and commercial vans for markets around the world.

Europe has also been difficult for Ford's Detroit rival General Motors sold off its European business entirely in 2017, to French automaker Groupe PSA and French banking groun BNP Paribas.

UPDATE 1-Ford to cut more than 5,000 jobs in Germany, others in UK

FILE PHOTO: The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid/File Photo BERLIN (Reuters) – U.S. automaker Ford plans to cut more than 5,000 jobs in Germany and will reduce its workforce in Britain as well as it seeks to return to profit… Continue reading UPDATE 1-Ford to cut more than 5,000 jobs in Germany, others in UK

Ford aims to cut 5,000 jobs in Germany – spokesman

FILE PHOTO: The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid/File Photo HAMBURG (Reuters) – U.S. automaker Ford is aiming to cut 5,000 jobs in Germany as it seeks to return to profit in Europe, a spokesman said on Friday. “We are looking… Continue reading Ford aims to cut 5,000 jobs in Germany – spokesman

UPDATE 1-Ford CEO Jim Hackett earned $17.1 million in 2018 as profit fell

FILE PHOTO: Jim Hackett, President and CEO of Ford Motor Company, speaks at the North American International Auto Show in Detroit, Michigan, U.S., January 14, 2019. REUTERS/Jonathan Ernst DETROIT (Reuters) – Ford Motor Co Chief Executive Officer Jim Hackett earned salary, bonus and stock awards of $17.1 million in 2018, up from $16.3 million the… Continue reading UPDATE 1-Ford CEO Jim Hackett earned $17.1 million in 2018 as profit fell

Heritage-Inspired Grabber Lime Arrives for 2020 Ford Mustang

2020 Mustang in Grabber Lime DEARBORN, Mich., March 15, 2019 – Just in time for St. Patrick’s Day, Ford is unveiling Grabber Lime for the 2020 Mustang. More potent than krypton-ite, this high-impact green inspired by a vintage Mustang color from the 1970s is sure to leave other muscle cars green with envy. “It’s lime… Continue reading Heritage-Inspired Grabber Lime Arrives for 2020 Ford Mustang