Jim Farley, Ford CEO Ford DETROIT – Ford Motor CEO Jim Farley is promising something Wall Street has been asking from the storied American car manufacturer for years: A clear and decisive plan as the auto industry transitions to electric vehicles. In the coming months, Farley said he “will lay out the entire picture” for… Continue reading Ford CEO promises ‘year of action’ as he accelerates company restructuring and transition to EVs – CNBC
Tag: Electric vehicles
Ford to speed up push to electric autos, digitization
Ford shares rose 1.2 percent in after-hours trading to $11.51. New York: Ford announced Thursday a dramatic acceleration of its investment push into electric autos and signaled deepening collaborations with technology giants on the increased digitization of driving. The US auto giant, released fourth-quarter and annual results, and said it plans $22 billion in electric… Continue reading Ford to speed up push to electric autos, digitization
EU electric and plug-in hybrid car sales jump to over 1 million in 2020
LONDON – Sales of electric and plug-in hybrid cars in the European Union almost trebled to over 1 million vehicles last year, accounting for more than 10% of overall sales, data showed on Thursday. The jump in sales shows electrified vehicles are becoming more mainstream products after years of being a niche market and it… Continue reading EU electric and plug-in hybrid car sales jump to over 1 million in 2020
Ford is more than doubling its investment in electric and autonomous vehicles to $29 billion
Ford is increasing its investment in electric and autonomous vehicles to $29 billion, the company’s top executives said in an earnings call Thursday. The automaker had previously committed to spend $11.5 billion on electrifying its vehicle lineup through 2022. Now, Ford says it will spend double that amount, while extending the timeline to 2025. The… Continue reading Ford is more than doubling its investment in electric and autonomous vehicles to $29 billion
Japan’s Nidec to buy Mitsubishi machine tool unit for EV motor push
Japan’s Nidec Corp said it will acquire a unit of Mitsubishi Heavy Industries that makes machine and cutting tools as it bolsters a push in motors for electric vehicles (EV). Nidec will buy the business from Japan’s biggest machinery maker for around 30 billion yen ($284 million) in a deal that will help it improve… Continue reading Japan’s Nidec to buy Mitsubishi machine tool unit for EV motor push
Ford ends electric vehicle deal with China company ‘on cusp of collapse’
Ford Motor Co. has ended its joint venture electric vehicle plans with China’s Zotye, a company with financial troubles so severe that it’s fighting for survival. The Ford development, first reported late Wednesday by Reuters in Shanghai, does not change the automaker’s commitment to producing vehicles for the largest electric vehicle market in the world, spokesman T.R.… Continue reading Ford ends electric vehicle deal with China company ‘on cusp of collapse’
Tesla takes delivery of a big order of robots at Gigafactory Texas
Tesla appears to already be taking delivery of a quite a big order of robots for Model Y production at Gigafactory Texas. Tesla Gigafactory Texas In mid-2020, Tesla announced a deal to build a brand-new factory in Austin, where they bought a 2,000-acre piece of land. At first, Tesla referred to the factory as the Cybertruck… Continue reading Tesla takes delivery of a big order of robots at Gigafactory Texas
Van market starts new year with a boost, up 2.0% in January
UK light commercial vehicle (LCV) market grows 2.0% in January, with 24,029 vehicles registered. Registrations of large vans single-handedly drive demand, surging 25.4% as all other segments experience double-digit decline. New emissions figures reveal 2020 as the year with lowest recorded van-derived average CO2 emissions, down -1.8% on 2019. SEE LCV REGISTRATIONS BY BRAND DOWNLOAD… Continue reading Van market starts new year with a boost, up 2.0% in January
New car registrations fall -39.5% as showroom closures stifle demand
Just 90,249 new cars registered in January – the worst start to a year since 1970 despite click and collect preventing greater fall New emissions figures show 2020 delivered the cleanest vehicles in history as average CO2 emissions fell by -11.8% on previous year, but more to do to deliver net zero Industry needs showrooms… Continue reading New car registrations fall -39.5% as showroom closures stifle demand
@VW Group: Blume: “The pandemic reveals who’s done their homework“
It has become noticeably quieter than usual in front of the Porsche headquarters in Stuttgart, with strict work from home rules resulting in empty offices and deserted car parks. Despite this, Porsche CEO Oliver Blume is in the office for this interview – in a large meeting room on the first floor of the administrative… Continue reading @VW Group: Blume: “The pandemic reveals who’s done their homework“