Ford to invest $500M in electric vehicle startup Rivian
DETROIT (AP) — 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...
DETROIT (AP) — Ford CEO Jim Hackett says he's hoping that trade talks now marked by threats of tariffs against imported vehicles result in a framework that brings balance and stability.
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...
VW, Ford team up on pickups, explore deal on electrics
FRANKFURT, Germany (AP) — Volkswagen and Ford are forming a global alliance to develop commercial vans and medium-sized pickups together while exploring broader cooperation on future battery-powered and autonomous vehicles and services.
Volkswagen CEO Herbert Diess and Ford CEO Jim Hackett said Tuesday that the first jointly developed vehicles could hit the market as early as 2022 and that the linkup would offer efficiencies that would mean stronger profits starting in 2023.
The Latest: Infiniti electric concept car makes debut
DETROIT (AP) — The Latest on the Detroit auto show (all times local):
An Infiniti concept electric SUV that ruined a press conference because it wouldn't move from back stage is now on display at the Detroit auto show.
The Infiniti QX Inspiration concept missed its introduction Monday morning and remained covered by a black tarp until early afternoon. The sleek white concept vehicle was being photographed on the stage.
Ford, Volkswagen in talks to build VWs at US Ford plants
REDFORD TOWNSHIP, Mich. (AP) — Ford and Volkswagen are in talks about building VW vehicles in some of Ford's U.S. factories.
VW CEO Herbert Diess told reporters after a meeting at the White House that the automaker in talks with Ford. The meeting was held Tuesday with executives from VW, BMW and Daimler to discuss trade issues.
Ford revamps China business, hires former Chery exec as CEO
BEIJING (AP) — 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 over at Ford in China.
More US corporate giants warn tariffs will mean price hikes
DETROIT (AP) — From Ford to Walmart to Procter & Gamble, a growing number of iconic American companies are warning that President Donald Trump's tariffs on U.S. imports are raising their costs and prices.
Jim Hackett, CEO of Ford, the second-largest U.S.-based automaker, said Wednesday that Trump's taxes on imported steel and aluminum will cost Ford $1 billion through 2019.
DETROIT (AP) — Ford Motor Co. said Wednesday it is in the midst of a major restructuring of the company that will cost $7 billion in cash and hit pretax earnings by $11 billion over the next three to five years.
But the company, which also reported a 48 percent second-quarter net profit decline, gave few details on what exactly will be cut or changed, bringing criticism and frustration from Wall Street analysts.
DETROIT (AP) — A nonprofit auto safety advocacy group is asking Ford to recall 1.35 million Explorer SUVs due to continued complaints of exhaust fumes in the passenger compartments.
The Center for Auto Safety says it found 44 complaints in a government database about fumes and potential carbon monoxide after owners had taken Explorers in for free repairs in a Ford customer service campaign that started last October.
The center made its request in a letter to Ford CEO Jim Hackett this week.
Ford promises more savings as 1Q earnings rise 9 percent
DEARBORN, Mich. (AP) — Ford Motor Co. said Wednesday it will shed most of its North American car lineup as part of broad plan to save money and make the company more competitive in a fast-changing marketplace.
The changes include getting rid of all cars in the region during the next four years except for the Mustang sports car and a compact Focus crossover vehicle, CEO Jim Hackett said as the company released first-quarter earnings.
Dearborn — Ford Motor Co. plans to trim $25.5 billion in operating costs by 2022 and cut its North American passenger car lineup by more than 80 percent, eliminating the Taurus, Fiesta, Fusion, C-Max and Focus sedans within a few years.
Dearborn — Ford Motor Co. paid new CEO Jim Hackett $16.73 million in 2017. The automaker disclosed its top executives' pay in a Thursday filing with the Securities and Exchange Commission.
The amount paid to Hackett is less than the $22,102,498 the company paid former CEO Mark Fields for all of 2016. The Blue Oval ousted Fields in late May last year, but paid him $21 million in 2017. Hackett officially took over on May 19.
The all-new Lincoln Aviator is a signal how Ford Motor Co. plans to get where it has said it wants to go.
The Dearborn-based automaker two weeks ago gave a product overview for the next two years. The company wants nearly 90 percent of its total vehicles sold in the U.S. to be trucks or SUVs by 2020. This as CEO Jim Hackett and his team work to cut operational costs, streamline production and introduce new or updated vehicles around the world.
The Blue Oval has seen the future and it looks a whole lot like its past, a rich heritage in trucks, SUVs and performance vehicles.
Ten months after CEO Jim Hackett's battlefield promotion to replace Mark Fields, Ford Motor Co. began Thursday to detail how it plans to strengthen the core business and improve its financial gearing amid an industry shift toward mobility, autonomy and electrification.
Dearborn — Ford Motor Co. says nearly 90 percent of the vehicles it sells by 2020 will be trucks, SUVs or commercial vehicles. And by 2021, the Blue Oval expects to sell more hybrid vehicles than Toyota.
Ford Motor Co. has a chance Thursday to change a few things — or not so much.
Nearly a year after Ford's board of directors ousted their CEO and promoted Jim Hackett to energize the culture and speed decision-making at the Blue Oval, the Dearborn-based automaker will try to show how it plans to compete over the next 24 months.
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It's been nine months since Ford Motor Co. directors ousted their CEO in favor of Jim Hackett, the longtime Steelcase Inc. CEO who headed the Blue Oval's Smart Mobility unit before his battlefield promotion last May.
Ford Motor Co. promoted its marketing chief and head of Lincoln to lead North American operations a day after ousting a top executive for “inappropriate behavior,” the third major management shakeup at the automaker in about eight months.
Kumar Galhotra, 52, is taking over the carmaker’s most important business unit after the company investigated his predecessor, Raj Nair, and found he had engaged in behavior “inconsistent with the company’s code of conduct.”
Raj Nair, Ford North America president, out over ‘inappropriate behavior’
The head of Ford's North American division is out of a job over his acknowledged "inappropriate behavior," the auto giant said Wednesday.
Raj Nair will leave Ford immediately, according to a company statement.
Neither Ford nor an accompanying statement by Mr. Nair specified the "inappropriate behavior" beyond saying it was against the company's code of conduct.
One of Ford Motor Co.'s top executives has been pushed out after an internal investigation found behavior that broke Ford's code of conduct.
Raj Nair, executive vice president and president of North America, was recently accused of "inappropriate behavior" via an anonymous complaint, Ford said. The company followed protocol to "fully investigate" claims of this nature, though the company would not say exactly what Nair was accused of.
Ford Motor Co.'s good standing in the credit community is in danger after Moody's Investor Services downgraded its ratings outlook for the automaker.
To understand why CEO Jim Hackett is urgently overhauling Ford Motor Co., look no further than the surging small sport utility vehicle segment.
The U.S. market for diminutive models including the Jeep Renegade, Honda HR-V and Chevrolet Trax has grown more than sixfold since the start of the decade and will surpass 1 million units for the first time this year, according to LMC Automotive. Ford is just showing up with the EcoSport hitting showrooms this month.
Dearborn — Ford Motor Co. made $7.6 billion in 2017, a 65 percent increase from the previous year.
The results were driven by strong performances in North America and the company's financial services sector. They come eight months after Ford replaced former CEO Mark Fields in May with Jim Hackett, the man who had been leading the company's electrification, self-driving and mobility initiatives.
Ford Motor Co. will introduce an all-new sporty Edge ST to its lineup in 2018.
It's the company's first SUV tuned by the Ford Performance team responsible for the GT supercar, zippy Focus RS and powerful F-150 Raptor. It will bring Ford's SUV lineup up-to-speed with crosstown rivals General Motors Co. and Fiat Chrysler Automobiles NV, which last year unveiled performance trims for full-size SUV models.
Las Vegas – For years, leaders at Ford Motor Co. have talked about a "City of Tomorrow," but after a presentation Tuesday at the CES technology show, tomorrow may not seem so far away.
Las Vegas — Mobility that lives in the cloud.
That's what Ford Motor Co. wants to offer its customers and plans to do with a Transportation Mobility Cloud. That and other plans for 2018 for Ford's mobility team were outlined by Ford's president of mobility Marcy Klevorn in a blog post published Monday night.
Ford Motor Co. CEO Jim Hackett met with employees at the automaker's Chicago plants Friday to address recent sexual harassment allegations there.
Hackett met there with Chicago Assembly and Stamping plant leadership, hourly workers and walked the plant floor to interact with employees, according a statement from the company.
The global auto industry and Silicon Valley will be looking for potential alliances and marriages next week at the CES technology show in Las Vegas when automakers, suppliers and start-ups come together to flex their tech.
The automotive industry for years has tried to shed its image as slow-moving, trying to prove it can adapt to the fast-paced technology sector by making a showing, but automakers are still looking for their place at the annual technology exhibition.
Ford Motor Co. is canceling the redesign program for its Fusion and is reevaluating the future of the midsize sedan in a move signaling the change new CEO Jim Hackett is bringing to the Blue Oval.
Ford Motor Co. CEO Jim Hackett addressed recent allegations of sexual harassment at the automaker's Chicago plants in an open letter to employees.
Ford CEO apologizes for harassment cases at Chicago plant
DETROIT (AP) — Ford CEO Jim Hackett is apologizing for multiple instances of sexual harassment at an assembly plant in Chicago.
In a letter sent Thursday to employees, Hackett said Ford won't tolerate harassment or retaliation against workers who report it.
Hackett wrote, "We don't want you here, and we will move you out for engaging in behavior like this."
Ford Motor Co. is offering voluntary retirement packages to hourly United Auto Workers employees at some U.S. factories, including four in Michigan.
Employees at the Michigan Assembly Plant, Dearborn Engine Plant, Rawsonville Components Plant and Woodhaven Stamping Plant hired before Nov. 19, 2007, are eligible for the packages, said Ford spokeswoman Kelli Felker.
Ford Motor Co. on Thursday announced another Chinese partnership to expand its footprint in the world's largest auto market.
The Dearborn-based automaker has a three-year agreement with Alibaba Group. Alibaba is often referred to as China's Amazon. The news comes as Ford CEO Jim Hackett and Executive Chairman Bill Ford Jr. wrap a week-long trip to the country.
Ford Motor Co. will pump 50 new vehicles into China over the next eight years as the company tries to grow its share in the world's largest market.
Executive Chairman Bill Ford and CEO Jim Hackett announced their plans in China on Tuesday. They include introducing eight new SUVs, and at least 15 electrified Ford and Lincoln vehicles, some of which will be built and sold exclusively in China.
Ford ups electric push in China as Beijing transforms market
DETROIT (AP) — Ford Motor Co. is promising to roll out more than 50 new vehicles in China over the next eight years including 15 powered by electricity as it restructures its business and responds to a government push for cleaner air by making all new vehicles electric.
The automaker, currently a small player in the world's largest auto market, announced the ambitious plan on Tuesday in Shanghai.
Ann Arbor — Athletes have every right to protest and it can have a positive result, but they also need to mount remedial actions to address their concerns, leaders in sport said Tuesday during a conversation about sport and social policy at the Gerald R. Ford School for Public Policy, at Michigan.
Meanwhile, sport has a mixed record when it comes to furthering social change, they said.
Ford Motor Co. is leaning on experience amid calls for a clear path to the future of the auto industry.
Ford Motor Co. CEO Jim Hackett wants his company to build the iPhone of self-driving cars.
That was one of the points Hackett touched on Thursday as he talked about his rise to the top of Ford, how difficult it would be to explain the rules of the road if he were riding in a Ford Mustang with a Martian – and Ford's position as an automotive and technology company. The comments came in response to questions at the Business Leaders for Michigan's CEO Summit in Detroit.
Ford’s net income jumps in 3Q on truck sales
DEARBORN, Mich. (AP) — Pickup trucks helped Ford Motor Co. to a strong finish in the third quarter despite lower global sales.
The Dearborn-based automaker's net income rose 63 percent to $1.6 billion in the July-September period. The earnings of 39 cents per share handily beat Wall Street's expectations. Analysts polled by FactSet forecast earnings of 33 cents per share.
Ford's revenue rose 1 percent to $36.45 billion. Automotive revenue of $33.6 billion also topped analysts' forecasts.
Dearborn — A favorable tax adjustment and strong-selling F-Series trucks helped Ford Motor Co. to make $1.6 billion in the third quarter.
The company reported Thursday morning the 63 percent increase over the same quarter a year ago, when profits slipped to $957 million due to recall costs, reduced dealer inventory and changes in the mix of the F-150 in North America. The company reported earnings per share of $.39, which beat analysts' forecasts.
The realignment of Ford Motor Co.'s top ranks under President and CEO Jim Hackett is continuing. Several executives shifted roles, while others, including the head of global strategy, are leaving the Blue Oval.
It's the second major shakeup since Hackett was appointed to lead the Dearborn-based automaker in May, when he restructured the executive ranks initially into what he and other company officials called a more rational flowchart.
The Rev. Jesse Jackson Sr. told Ford Motor Co. CEO Jim Hackett on Friday that he needs to be less insulated from suppliers owned by minorities and women, saying that's the only way their presence in the automotive industry will improve.
Ford plans $14B in cost cuts as part of new CEO’s strategy
DETROIT (AP) — Ford Motor Co.'s new CEO plans to cut $14 billion in costs, drop some car models and focus the company's resources on trucks, SUVs and electric vehicles as part of a renewed effort to win over skeptical investors.
New Ford CEO says company will balance present with future
DETROIT (AP) — The new CEO of Ford Motor Co. says the company isn't taking its eyes off the present as it prepares for transportation in the future.
Jim Hackett, who replaced Mark Fields in May, says new mobility projects such as buying a shuttle company and the purchase of an artificial intelligence startup have not taken money from car and truck development.
DEARBORN, Mich. (AP) — Ford Motor Co. had a better-than-expected second quarter despite lower sales and upheaval in its executive ranks.
Net income rose 4 percent to $2 billion, thanks to a change in the company's tax rate and a strong performance from its credit arm.
Ford's new CEO Jim Hackett called it "a solid performance" but said the company still needs to get much more fit and nimble.
DETROIT (AP) — Ford's new CEO is shaking up the company's senior management.
The Dearborn, Michigan, automaker named a new head of global product development Thursday, as well as new heads of its operations in North America, Europe and Asia.
DETROIT (AP) — Ford Motor Co.'s new CEO got a $1 million bonus when he took on his new role this week.
CEO Jim Hackett will have a base salary of $1.8 million per year. That's the same base pay as outgoing CEO Mark Fields.
Hackett is eligible for a bonus that could triple his base salary each year. He also received performance-based stock units worth $5.2 million over three years and stock units worth $1.75 million if he stays at Ford until 2020.