The case involved what the plaintiffs’ lawyers called dangerously defective roofs on Ford pickup trucks. Lawyers for the plaintiffs had submitted evidence of nearly 80 rollover wrecks that involved truck roofs being crushed that injured or killed motorists.
Ford would not comment on a report that it could lay off as many as 8,000 employees to cut expenses to finance its ambitious EV goals. It called the report by Bloomberg News speculation.
Ford CEO Jim Farley predicted big cost reductions are coming with new battery chemistries that use fewer expensive and scarce precious metals such as nickel and cobalt. Plus, EVs will take less time and labor to build, saving more money, he said.
Ford plans a major restructuring with two distinct but strategically interdependent auto businesses–Ford Blue focusing on traditional combustion engines and Ford Model e, which will develop electric vehicles.
Researchers say charging times for electric vehicles could eventually be on par with filling up a car at a gas station.
When Ford revealed plans to spend more than $11 billion on the fledgling electric vehicle sector, the automaker chose two states where Republican leaders have criticized the push for green energy and defended fossil fuels.
The company said 70,000 customers have put down $100 deposits to reserve an electric F-150 in the week since it was unveiled. Ford’s F-Series pickup is the top-selling vehicle in the U.S.
Ford is taking a significant risk by sinking so much capital into an electric version of a pickup that commands a huge and loyal following. In a typical year, Ford sells about 900,000 F-series trucks. It has been America’s top-selling vehicle for nearly four decades.
The plants would reopen in early or mid-April, restoring the largest source of cash for automakers that generally book revenue when they ship vehicles to dealerships.
General Motors—which hopes to make ventilators in Kokomo—and Ford Motor Co. are among automakers that are throwing their design and production prowess behind two other manufacturers’ efforts to build more ventilators and respirators for health care workers and first responders.
The four-year agreement gives workers a mix of pay raises and lump-sum payments as well as a $9,000 ratification bonus.
Next week, Ford will show off an electric SUV that is inspired by the Mustang performance car. It’s the company’s first consumer-friendly fully electric vehicle, and it’s expected to have a range of over 300 miles per charge.
The agreement likely will mirror the pact approved last week by General Motors workers after a 40-day strike.
The move announced Tuesday means that GM will be the focus of bargaining, and any deal with the company will set the pattern for Ford and Fiat Chrysler. It also means that if the union decides to go on strike, it will be against GM.
Journey Holding Corp.—formed this year through the merger of fast-growing Indianapolis-based tech company DoubleMap Inc. and Salt Lake City-based Ride Systems LLC—is being acquired by a transit-systems technology unit of Ford Motor Co.
Ford confessed in February to having taken a flawed approach to using road-load specifications to simulate how aerodynamic drag and tire friction can affect the fuel economy of its vehicles outside testing labs.
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 export vehicles from China to the U.S. for the first time starting in 2019. It also plans to make new aluminum-sided Ford Expedition and Lincoln Navigator SUVs in Louisville, securing 1,000 jobs at the plant.
The departure of Mark Fields comes amid sharp criticism of Ford's strategy by shareholders, and a more than 30 percent plunge in the company's stock price during his tenure.
Ford is canceling plans to build a new $1.6 billion factory in San Luis Potosi, Mexico, and will instead invest some of that money in a U.S. factory that will build new electric and autonomous vehicles.