In a radical shift from conventional sales practices, Ford Motor Company is set to transform the customer experience by selling cars directly to consumers via online platforms. Ford CEO Jim Farley envisions a fresh approach to auto sales which, he believes, will enhance the consumer experience and thereby bolster sales figures. His plan? Leapfrog the […]
Ford in $4.5 bln deal for EV battery materials plant – EQ Mag
SOROWAKO, Indonesia : U.S. carmaker Ford has joined PT Vale Indonesia and China’s Zhejiang Huayou Cobalt’s as their new partner in a $4.5 billion nickel processing plant in Indonesia, the companies said on Thursday. The investment is Ford’s first in the Southeast Asian country and underscores growing appetite among automakers for raw materials used in […]
Ford says EV unit losing billions, should be seen as startup – EQ Mag
DETROIT : Ford Motor Co.’s electric vehicle business has lost $3 billion before taxes during the past two years and will lose a similar amount this year as the company invests heavily in the new technology. The figures were released Thursday as Ford rolled out a new way of reporting financial results. The new business […]
GM, Ford, Google partner to promote ‘virtual’ power plants – EQ Mag
A group of heavy hitters, including Ford, General Motors, Google Nest, OhmConnect, Olivine, SPAN, SunPower, Sunrun, SwitchDin, and Virtual Peaker, has formed a coalition that aims to scale up the market for virtual power plants in a bid to increase the resiliency of the grid and help decarbonize the electric sector. Virtual power plants, or […]
Ford accelerates electric car production with UK Government support – EQ Mag
UK Export Finance (UKEF) backing worth £600 million will help Ford to expand its electric vehicle production line and deliver on its 2035 net zero plan. Government-backed loan will facilitate Ford investments into Essex and Merseyside, supporting thousands of local jobs. The loan will help Ford to increase its electric vehicle range from currently two […]
Ford to boost EV parts investment for UK plant by $180 mln – EQ Mag
HALEWOOD, England : Ford Motor Co F.N will invest an extra 149 million pounds ($180 million) to boost output of electric vehicle (EV) power units by 70% at its engine factory in northern England as the U.S. carmaker accelerates its push to go electric. Electric drive unit production capacity at the Halewood plant will increase […]
Ford executive says South Africa needs EV policy within six months – EQ Mag
Ford Africa head says it needs immediate policy certainty Says it would take around four years to plan investments Wants clarity on specific support in auto masterplan JOHANNESBURG : The Africa head of Ford Motor Co (F.N) said the South African government must deliver policy certainty on electric vehicles (EVs) within six months to save […]
Ford plans to cut 8K jobs to help fund its EV plans: Report – EQ Mag Pro
With an aim to fund its plans to build electric vehicles (EVs), popular automaker Ford is likely planning to cut up to 8,000 jobs over the coming weeks, media reports said. According to Bloomberg, the layoffs would occur at its Ford Blue unit, recently created to develop vehicles with internal combustion engines (ICE), and would […]
Solid Power aims to ship first solid-state battery cells by year-end to BMW, Ford – EQ Mag Pro
Solid Power, a developer of solid-state batteries for electric vehicles, aims to begin shipping pre-production battery cells by year-end for validation testing by partners BMW and Ford Motor, the company said on Monday. In an interview, Doug Campbell, Solid Power’s chief executive and co-founder, said the Colorado company has set up a pilot production line […]
Ford to invest $3.7 bln for production of EVs, gas-powered vehicles
Ford in March said it was boosting its spending on EVs to $50 billion through 2026, up from $30 billion previously. Ford Motor Co on Thursday said it will invest $3.7 billion in assembly plants in Michigan, Ohio and Missouri for production of both electric and gasoline-powered vehicles. Ford said $2.3 billion of the total […]