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☆ Ford names ex-Lucid Motors exec as next CFO, promotes current chief
▼ + stars: | 2024-05-10 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +2 min

Ford Motor on Friday named the former chief financial officer of electric vehicle startup Lucid to replace its current CFO, who is being promoted to more closely oversee the company's ongoing turnaround plan. The ex-Lucid executive, Sherry House, will join Ford first as finance vice president in early June. She's set to transition into the CFO role in early 2025, the company said in a press release. In the meantime, current CFO John Lawler will continue in his position while expanding his role to become vice chair. "Make no mistake, EVs are coming, EVs are part of the future," Lawler had told CNBC back in February.

Persons: John Lawler, Linda Zhang, Sherry House, She's, Lawler, Ford, Sherry, Jim Farley Organizations: New York Stock Exchange, Ford, CNBC, Lucid Motors, General Motors Locations: New York City , New York, U.S, Saudi Arabia

☆ Lost at Parkland: ‘Peter Was Always My Translator’
▼ + stars: | 2024-02-11 | by ( Amy Qin | ) www.nytimes.com time to read: 1 min

Linda Zhang wandered into her son’s room and sat for a while. She visits there from time to time, after her husband has gone to work at the restaurant and their other kids have gone to school. And then there were the many tributes, gifts and drawings that poured in after her son, Peter Wang, was shot multiple times and killed at Marjory Stoneman Douglas High School. On this morning, Ms. Zhang pointed out a framed letter. There was also a portrait of Peter, which Ms. Zhang said might have been drawn by a famous artist, but she wasn’t quite sure.

Persons: Linda Zhang, Peter Wang, Marjory Stoneman, Zhang, Marco Rubio, Peter Organizations: Nintendo, Marjory Stoneman Douglas High School Locations: Florida

"We're going to see in 2023, there is still going to be volatility around chips," Ford Chief Financial Officer John Lawler said on Thursday. By the end of 2023, almost 18 million vehicles will have been removed from production plans since the chip shortage started, according to Auto Forecast Solutions. Japan's Denso Corp (6902.T), a leading supplier to Toyota Motor Corp (7203.T), on Friday slashed its annual profit forecast and warned the chip shortage could cause auto production cuts. Toyota in November cut its vehicle production projection for the current financial year through March due to the chip shortage. The head of another auto supplier, Aptiv Plc (APTV.N), which makes advanced driver assistance systems, vehicle computers and high-voltage cabling, said the impact of the chip shortage is not evenly felt.

☆ Orders for the electric F-150 were so strong that Ford started building another factory next door to boost production
▼ + stars: | 2022-12-04 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +4 min

Ford had to literally tear down the walls of its factory to cope with demand for the electric F-150. "That surprised us – I think it surprised a lot in the industry, how ready people already were for electric vehicles," says Darren Palmer, who heads up Ford's electric vehicle (EV) program. Darren Palmer speaks with customers in front of a Ford F-150 Lightning. Despite recently committing $50 billion to its EV program over the next four years, the success of an electric F-150 was never certain. The 2022 Ford F-150 Lightning Lariat.

☆ Treasury outlines wage, apprenticeship requirements for clean energy tax credits
▼ + stars: | 2022-11-29 | by ( Emma Kinery | ) www.cnbc.com time to read: +3 min

"I want to send a message to investors, developers, contractors looking at clean energy projects," said Labor Secretary Marty Walsh. The Inflation Reduction Act, which became law in August, allocated $369 billion toward addressing climate change through clean energy initiatives. Firms have to pay workers the prevailing wage for their area and abide by rules for the use of apprenticeship programs. The prevailing wage and apprenticeship requirements are needed for companies to receive the Advanced Energy Project Credit, the Alternative Fuel Refueling Property Credit, the Credit for Carbon Oxide Sequestration, the Clean Fuel Production Credit, the Credit for Production of Clean Hydrogen, the Energy Efficient Commercial Buildings Deduction, the Renewable Energy Production Tax Credit and the Renewable Energy Property Investment Tax Credit. The prevailing wage stipulation is also required for the New Energy Efficient Home Credit and the Zero-Emission Nuclear Power Production Credit.

Today's EVs run on lithium ion batteries — mostly made with lithium, cobalt, manganese and high-grade nickel, whose prices have soared. The EVs of the future — those arriving after 2025 — could shift to sodium ion or lithium sulfur battery cells that could be up to two-thirds cheaper than today's lithium ion cells. China's CATL (300750.SZ) has said it plans to begin producing sodium ion cells in 2023. Michigan-based Amandarry and British startup AMTE Power (AMTE.L) are developing sodium ion batteries using sodium chloride — basically table salt — as the main cathode ingredient. Battery developers hope they can add sodium ion and lithium sulfur batteries to the range open to the auto industry.

☆ Facebook likely has your contact info — even if you never signed up for its services. Here's how to remove it.
▼ + stars: | 2022-11-01 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +5 min

Speaking of Instagram: We reported that its parent company, Meta, likely has your contact information, even if you never shared it yourself — and even if you never signed up to use any of its services, including Instagram, Facebook, or Messenger. Facebook probably has your phone number, even if you never shared it. Facebook quietly rolled out the service, which lets people check whether the firm holds their contact information (such as their phone number or email address), and delete and block it. How to wipe your phone number from Facebook. In a separate leaked memo, engineers were told to work with "maniacal" urgency and bring their ideas to Musk directly.

☆ Doubters swore they'd never give up their F-150 to go electric - but she changed their minds. Here's how
▼ + stars: | 2022-10-30 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +5 min

The F-150 Lightning has had 200,000 orders and helped create a new generation of truckers. The woman rising to that challenge for Ford is Linda Zhang, the chief engineer of Ford's electric version of the F-150 called the Lightning. The electric F-150 Lightning can also be used as a power source. Towing was the other major barrier, as many potential customers feared the electric version would not have the same power as the petrol-fueled equivalent. "The significance of the F-150 Lightning in modern automotive manufacturing cannot be overstated," said the AAA's Brannon.

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