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☆ Ford’s boss evokes empty threats in union battle
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Phil Noble Acquire Licensing RightsNEW YORK, Sept 15 (Reuters Breakingviews) - Ford Motor (F.N) boss Jim Farley is breaking out the "B" word. In a Thursday interview with CNBC, Farley said that pay-rise demands from the United Auto Workers would have driven Ford “bankrupt” if implemented back during 2019 contract negotiations. For now, using “bankrupt” and “Ford” in the same sentence seems like an empty threat. Even in the event of a prolonged strike, Ford has a buffer. The company is sitting on $10 billion of cash net of debt and $47 billion in total liquidity.

Persons: Phil Noble, Jim Farley, Farley, “ Ford ”, Ford, wishlist, Jonathan Guilford, Lauren Silva Laughlin Sharon Lam, Aditya Sriwatsav Organizations: Ford, REUTERS, Reuters, CNBC, United Auto Workers, General Motors, X, Thomson Locations: Liverpool, Britain, North America

☆ Ionic Rare Earths ties with Ford in Belfast magnet recycling venture
▼ + stars: | 2023-09-12 | by ( Melanie Burton | ) www.reuters.com time to read: +2 min

The Ford logo is seen on the grill of an E-transit concept vehicle at the Ford Halewood transmissions plant in Liverpool, Britain, December 1, 2022. REUTERS/Phil Noble/File Photo Acquire Licensing RightsMELBOURNE, Sept 12 (Reuters) - Ionic Rare Earths (IXR.AX) said on Tuesday it has received UK government investment to build a commercial rare earth magnet recycling facility in Belfast that will supply Ford's (F.N) electric vehicle production facilities in the country. The UK government will support the partnership with an investment of £2 million ($2.50 million) as part of its push to support circular economy magnet rare earths, as the West diversifies supply chains away from China which produces almost all the world's magnet supply. Rare earths are the most magnetic of all metals, used in applications from wind farms to EVs to defence. To support production at this facility there will be a requirement for over 600 tonnes of magnet raw material per annum, it said in the release.

Persons: Phil Noble, Simon Palmer, Ford, Melanie Burton, Michael Perry Organizations: Ford, REUTERS, Rights, Metals, Ford’s European Union, Thomson Locations: Liverpool, Britain, Belfast, China

☆ Ford makes UAW a contract offer
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: 1 min

The Ford logo is seen on the grill of an E-transit concept vehicle at the Ford Halewood transmissions plant in Liverpool, Britain, December 1, 2022. REUTERS/Phil Noble/File Photo Acquire Licensing RightsCompanies Ford Motor Co FollowAug 31 (Reuters) - Ford Motor (F.N) has made a contract offer to the United Auto Workers (UAW), the company said on Thursday. The contract offer would provide hourly employees with 15% guaranteed combined wage increases and lump-sums, and improved benefits over the life of the contract, the company said in a statement. Wages, including overtime, and lump-sum bonuses for Ford's UAW-represented hourly workers would increase from $78,000 on average in 2022 to $92,000 in the first year of the contract, the automaker said. Reporting by Gursimran Kaur in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Phil Noble, Gursimran Kaur, Shailesh Organizations: Ford, REUTERS, United Auto Workers, UAW, Ford's UAW, Thomson Locations: Liverpool, Britain, Bengaluru

☆ US auto safety agency probes 2022 Ford Mach-E EV recall
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

The Ford logo is seen on the grill of an E-transit concept vehicle at the Ford Halewood transmissions plant in Liverpool, Britain, December 1, 2022. REUTERS/Phil Noble/File Photo Acquire Licensing RightsAug 21 (Reuters) - U.S. auto safety regulators said Monday they are investigating whether Ford Motor's (F.N) 2022 recall of nearly 49,000 Ford Mustang Mach-E electric vehicles adequately addressed concerns. Ford issued the 2022 recall because high voltage battery main contactors may overheat from DC fast-charging and repeated wide-open pedal events, which could result in an immediate loss of power, increasing the risk of a crash. Following the recall, Ford issued a technical service bulletin to replace the High Voltage Battery Junction Box on recalled vehicles. The National Highway Traffic Safety Administration said it has opened a recall query after receiving 12 consumer complaints regarding Mach-E vehicles that received recall fixes.

Persons: Phil Noble, Ford, David Shepardson, Jason Neely Organizations: Ford, REUTERS, High, Traffic Safety Administration, Thomson Locations: Liverpool, Britain

☆ Ford, partners pick Canada for $900 mln battery materials plant
▼ + stars: | 2023-08-17 | by ( Steve Scherer | ) www.reuters.com time to read: +3 min

The Ford logo is seen on the grill of an E-transit concept vehicle at the Ford Halewood transmissions plant in Liverpool, Britain, December 1, 2022. The consortium includes South Korean partners EcoProBM (247540.KQ) and SK On Co Ltd, according a statement from the ministry. The factory will eventually produce 45,000 tonnes of cathode active materials (CAM) per year for Ford EVs. Ford in a separate statement described the materials as high-quality Nickel Cobalt Manganese (NCM) for rechargeable batteries that are targeting greater performance and improved EV range. Germany's BASF SE (BASFn.DE) is also building a battery materials factory there.

Persons: Phil Noble, EcoProBM, Ford, Lisa Drake, EVs, Francois, Philippe Champagne, Steve Scherer, Jane Merriman, Mark Porter Organizations: Ford, REUTERS, Rights OTTAWA, Ford Motor, South, SK, Co, Ford EVs, Reuters, General Motors Co, BASF, Volkswagen, Fiat, Chrysler, Detroit, Thomson Locations: Liverpool, Britain, Becancour, Quebec, North America, Ontario, St, Lawrence, Canada

REUTERS/Phil NobleAug 14 (Reuters) - Ford Motor (F.N) on Monday named former Apple (AAPL.O) executive Peter Stern as the president of its newly formed Ford Integrated Services unit to help build new high-margin digital and subscription services. Stern, who previously oversaw Apple TV+, iCloud and Apple News+, will report to Ford CEO Jim Farley. In his new role, Stern will focus on integrating hardware, software and services across the company's Ford Blue, Model e and Ford Pro units. Ford now has more than 550,000 paid software and services subscribers, more than 80% of them through the Ford Pro commercial unit. "The basis for differentiation is shifting from the vehicles alone to the integration of hardware, software and services," Stern said.

Persons: Phil Noble, Peter Stern, Stern, Jim Farley, Ford, Doug Field, Michael Abbott, Farley, Ford's, We're, Nathan Gomes, Paul Lienert, Krishna Chandra Eluri, Sharon Singleton, Jonathan Oatis Organizations: Ford, REUTERS, Monday, Apple, Ford Integrated Services, Ford Pro, General, Thomson Locations: Liverpool, Britain, United States, Bengaluru, Detroit

☆ What Ford's buoyant quarterly sales reveal about progress toward its ambitious EV goals
▼ + stars: | 2023-07-06 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Electric vehicle sales fell 2.8% to 14,843 in the second quarter. It's worth noting that Ford EV sales are up 11.9% year to date, and total sales of more than 1 million vehicles in 2023 rose 10%. Despite solid quarterly sales, shares of Ford dropped more than 2.5% to just under $15 each. General Motors (GM) on Wednesday said total second-quarter U.S. auto sales increased by nearly 19% to 691,978. However, GM's electric vehicle sales in Q2 dropped 32% to 15,652.

Persons: Ford, it's, Tesla, Jim Farley, Jim Cramer's, Jim Cramer, Jim, Christopher Furlong Organizations: Ford, General Motors, Monday, EV, Federal, Energy Department, CNBC, Getty Locations: U.S, Canada, EVs, Halewood, England

☆ Jaguar Land Rover plans to invest 15 bln pounds in electric push
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: 1 min

April 19 (Reuters) - British luxury carmaker Jaguar Land Rover (JLR) on Wednesday said it plans to invest 15 billion pounds ($18.65 billion) over the next five years to expand its electric-vehicle offerings. JLR, which is owned by India's Tata Motors (TAMO.NS), added that its Halewood plant in Merseyside, UK, will become an all-electric manufacturing facility. ($1 = 0.8042 pounds)Reporting by Chandini Monnappa in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Ford plans "dramatic reductions" in product complexity - exec
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Phil NobleCompanies Ford Motor Co FollowDETROIT, April 5 (Reuters) - Ford Motor Co (F.N) plans "dramatic reductions" in the complexity of its product lineup starting in the 2024 model year, Jim Baumbick, the automaker's product development chief, said Wednesday at a conference hosted by Bank of America. At the same time, Ford plans to develop more variations of certain model lines, such as the Bronco SUV, because they offer 30% or greater profit margins compared to the base model, Baumbick said. Ford Chief Executive Jim Farley has said the automaker's product lineup and vehicle architectures are too complex and too costly. Ford is driving to cut billions from operating costs after 2022 profits fell short of investor expectations. Ford is also "rushing to add capacity" to build more Maverick compact pickup trucks, he said.

☆ U.S. Treasury to release EV battery sourcing rules next week
▼ + stars: | 2023-03-22 | by ( Nichola Groom | ) www.reuters.com time to read: +3 min

REUTERS/Phil Noble/File PhotoMarch 22 (Reuters) - The U.S. Treasury Department on Wednesday said it will release guidance next week on sourcing requirements for electric vehicle battery tax subsidies under President Joe Biden's climate change law, the first in a string of highly anticipated rules to determine how broadly the credits can be used. It will also issue guidance on selling tax credits and making them refundable, which allows entities without tax liability to use them. The IRA specifices, for instance, that a $7,500 EV tax credit is only available to North American-assembled vehicles that meet certain local battery production and mineral extraction processing standards. In December, Treasury decided not to issue proposed guidance on battery sourcing rules until March, effectively giving some EVs not meeting new requirements a few months of eligibility in 2023 before battery rules take effect. The other half requires manufacturing or assembly of at least 50% of battery components in North America.

☆ Şocul provocat de Brexit începe să afecteze industria auto din Marea Britanie
▼ + stars: | 2018-02-18 | by ( ) www.jurnal.md time to read: +1 min

O uniune vamală, pe care guvernul a exclus-o, ar elimina o parte din fricţiunile din viitoarele relaţii comerciale. Costul asamblării unui automobil în Marea Britanie ar putea creşte cu 2.372 de lire sterline (3.337 dolari), potrivit unui scenariu în care ar fi impuse taxe vamale de 10%, potrivit estimărilor firmei PA Consulting din Londra. Cel mai probabil este ca Honda Motor şi Toyota Motor să închidă fabrici, pentru că cei doi producători japonezi exportă cea mai mare parte a automobilelor fabricate în Marea Britanie. Companiile străine nu vor rămâne ”dacă operaţiunile din Marea Britanie nu vor fi profitabile”, a declarat la începutul acestei luni ambasadoul Japoniei în Marea Britanie, Koji Tsuruoka. Chiar lângă fabrica Haguar din Halewood, un bărbat a declarat că a votat pentru Brexit pentru că muncitorii care au migrat din alte state europene au dus la scăderea salariilor.

Persons: Brexit Organizations: BMW, Consulting, Honda Motor, Toyota Locations: Oxford, Franţa, Hams Hall, Birmingham, Steyr, Austria, Europa, Londra, Japoniei, Halewood

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