Ford to invest $500M in electric vehicle startup Rivian

Business 04/24/19, 08:50

Ford is sinking a half-billion dollars into electric vehicle startup Rivian in a deal that has the companies working together on a new Ford electric vehicle based on Rivian underpinnings.Ford Motor Co. will become a minority partner in Rivian, which is based outside of Detroit and recently rolled out a ...

Ford CFO Shanks retires; former Snap CFO Stone to take over

Business 03/21/19, 09:23

Ford Motor Co. said its chief financial officer, Bob Shanks, will retire in December, capping a 42-year career at the automaker.The Dearborn, Michigan-based company on Thursday said that Tim Stone will succeed Shanks as chief financial officer. Stone will come to Ford in April and takes over as CFO on ...

Ford repackages factory investment plan, will add 900 jobs

Business 03/20/19, 10:20

Ford Motor Co. is repackaging a previously announced manufacturing investment in the Detroit area and now says it will spend $900 million and create 900 new jobs over the next four years. Most of the new workers will build a new generation of electric vehicle at Ford's existing factory in Flat ...

Ford shifting 550 jobs to boost SUV production in Kentucky

U.S. 03/19/19, 10:23

Ford Motor Co. said Tuesday it will shift 550 jobs to its Kentucky Truck Plant to boost production of its Expedition and Lincoln Navigator vehicles to meet growing demand for its large SUVs.Growing sales for the Expedition and Navigator are driving a 20 percent production boost at the Louisville plant, ...

Guthrie dropped from nominees for contributions to NASCAR

Sports 03/14/19, 12:20

Janet Guthrie, the first woman to qualify and compete in both the Daytona 500 and the Indianapolis 500, was dropped from the latest list of nominees for NASCAR's Landmark Award that honors contribution to the sport.Guthrie and Barney Hall, longtime anchor for the Motor Racing Network, were replaced on the ...

Ford begins probe into whether gas mileage was overstated

Business 02/21/19, 16:57

Ford Motor Co. has launched an investigation into whether flaws in an internal mathematical model may have caused it to overstate gas mileage and understate pollution from a wide range of vehicles.The company says a group of employees reported possible problems with the model in September, prompting the company to ...

Ford puts 2018 adjusted profit outlook below Street view

Business 01/16/19, 09:38

Ford is calling for 2018 adjusted earnings of $1.30 per share, slightly below Wall Street's view, because of challenges including higher commodity and warranty costs and a business decline in China.Analysts predict earnings of $1.33 per share, according to FactSet.Looking ahead, Ford Motor Co. Chief Financial Officer Bob Shanks said ...

Waning iPhone demand highlights consumer anxiety in China

Business 01/03/19, 07:38

Apple's $1,000 iPhone is a tough sell to Chinese consumers jittery over an economic slump and the trade war with Washington.CEO Tim Cook told shareholders Wednesday that iPhone demand is waning, mainly in China. That makes the tech giant the latest global company grappling with Chinese consumer anxiety.Other brand names ...

Altria strides into vape market with $13B stake in Juul

Business 12/20/18, 09:52

Altria, one of the world's biggest tobacco companies in the world, is spending nearly $13 billion to buy a huge stake in the vape company Juul as cigarette use continues to decline.The Marlboro maker said Thursday that it will take a 35 percent stake in Juul putting the value of ...

Chinese automaker Zotye plans to sell vehicles in US in 2020

Business 11/15/18, 00:35

Chinese automaker Zotye Auto said it plans to start selling vehicles in the United States in 2020.Zotye said it will work with an American partner, HAAH Automotive Holdings. The companies said Wednesday the first model for the U.S. market will be an SUV but gave no details.Zotye joins Chinese automakers ...

Ford buys electric scooter sharing company Spin

Business 11/08/18, 17:49

Ford Motor Co. has bought an electric scooter sharing company, expanding its presence in alternative modes of transportation.The century-old automobile company announced its acquisition of Spin, a San Francisco-based dockless scooter sharing company, on Wednesday.Spin operates in 13 cities and campuses and allows riders to borrow a scooter for $1 ...

Update: Ford’s 3Q net profit drops 37 percent

Business 10/24/18, 16:34

The Latest on Ford's third quarter earnings (all times local):4:15 p.m.Ford Motor Co.'s net profit fell 37 percent in the third quarter as sales slowed in the U.S. and China.The company says it made $991 million from July through September, or 25 cents per share. Revenue was up 3 percent ...

Investors seek restructuring details in Ford 3Q results

Business 10/24/18, 14:55

When Ford Motor Co. reports third-quarter earnings Wednesday afternoon, investors will be looking for details on how the company plans to remake itself.Ford CEO Jim Hackett has promised $11 billion in cuts over five years as the company resizes to better compete globally, and it has confirmed that some employees ...

Ford revamps China business, hires former Chery exec as CEO

Asia & Pacific 10/23/18, 23:45

Ford Motor Co. has revamped its Asian operations and made its China business a stand-alone unit, recruiting the head of local automaker Chery Automobile to be its new CEO.The company said Wednesday that industry veteran Chen Anning will replace Jason Luo, who quit earlier this year, just months after taking ...

Update: Ford exec says hard Brexit a threat to industry

Europe 10/16/18, 09:28

The Latest on Britain's upcoming departure from the European Union (all times local):3:20 p.m.One of Ford Motor Co.'s top executives in Europe says a hard Brexit would be a significant threat to the U.K. auto industry.Steven Armstrong, Ford's president for Europe, Middle East and Africa, says the company would do ...

Ford Motor told to pay Thai customers for transmission woes

Business 09/21/18, 05:00

A Thai court has ordered Ford Motor Co. to pay 291 customers a total of about $720,000 in compensation for selling cars equipped with faulty transmissions.The Bangkok South Civil Court's decision was welcomed Friday as a victory in a country where consumers rarely win redress.Most of the plaintiffs in the ...

End of content

No more pages to load