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☆ Ford cuts prices on its electric F-150 Lightning pickups by as much as $10,000
▼ + stars: | 2023-07-17 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +1 min

Ford Motor on Monday cut prices for its electric F-150 Lightning pickup, saying its efforts to boost production and lower costs for battery minerals have paid off. Ford said prices for some of the least expensive versions of the Lighting would fall by nearly $10,000. Prices for all versions, including the top-line Platinum trim, will drop by at least $6,000 from levels set in March. The Dearborn, Michigan factory that makes the Lightning will be closed for several weeks while the production upgrades are put in place, Ford said Monday. Increasing production of the Lightning and other Ford EVs has been a key priority for CEO Jim Farley this year.

Persons: Ford, Ford EVs, Jim Farley Organizations: Ford Locations: Dearborn , Michigan, U.S

☆ Ford cuts F-150 Lightning prices by up to $10,000 just days after Tesla's first Cybertruck rolled off the line
▼ + stars: | 2023-07-17 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

Days later, Ford announced price cuts to its F-150 Lightning electric pickup by up to $10,000. Both signal that the world of electric pickup trucks is heating up. Ford said Monday morning it would slash the prices of its F-150 Lightning electric pickup trucks by up to nearly $10,000 just days after Tesla's rival Cybertruck finally rolled off the assembly line. The cheapest electric F-150 dropped nearly $10,000, from $59,974 to $49,995, while the most expensive trim option fell about $6,000, from $98,074 to $91,995. Ford raised Lightning prices several times over the past year.

Persons: Tesla's, Ford, Cybertruck, Tesla, GM's, Stellantis, Ram Organizations: Ford, Morning, EV, GM's Chevrolet

☆ Jim Cramer explains Ford's electric vehicle price cuts
▼ + stars: | 2023-07-17 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Monday analyzed Ford Motor 's move to slash prices for its electric F-150 Lightning pickup truck. Cramer said he thinks the price cuts are due at least in part to the novelty of EVs wearing off for many Americans. It doesn't help, Cramer said, that these cuts come just a few days after Tesla unveiled its first Cybertruck, the optics of which he called "suboptimal." "Ultimately, unless your costs come down — and that's what's happening with Ford — there will be no profit anyway," Cramer said. "But if an auto company doesn't make electric vehicles, that auto company will eventually be doomed, we all know that."

Persons: CNBC's Jim Cramer, Cramer, Ford, Tesla Organizations: CNBC, General, Ford

☆ Opinion | America Can’t Build a Green Economy Without China
▼ + stars: | 2023-07-17 | by ( Robinson Meyer | ) www.nytimes.com time to read: +1 min

Ford’s River Rouge plant, then the world’s largest factory, ultimately inspired facilities by Renault, Volkswagen, Toyota and the Russian automaker Gaz. China learned to master the solar, battery and electric vehicle industries through the 2010s, while the United States was debating whether to pass clean-energy policy — and even whether climate change existed at all. With the Inflation Reduction Act, the United States now has an opportunity to become more competitive, and nothing gets lawmakers from across the political spectrum pumped up faster than the prospect of crushing China. But the United States cannot build a competitive renewable or electric vehicle industry from scratch. The history of innovation — and of the modern world, frankly — shows that American engineers will progress in these industries only when they can work with their Chinese counterparts.

Persons: Henry Ford, weren’t Organizations: Renault, Volkswagen, Toyota Locations: France, Japan, Germany, Soviet, Detroit, Rouge, Russian, Weimar, America, China, United States

☆ Ford's electric Mustang Mach-E is piling up on dealer lots as the automaker confronts an EV-inventory problem
▼ + stars: | 2023-07-12 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +6 min

But the automaker is having a hard time moving its inventory of Mach-E and Lightning EVs. Ford dealerships are selling fewer Ford EVs than they were this time last year, per Cloud Theory. Erich Merkle, Ford's head of US sales analysis, said EV sales were up nearly 12% through June. He also said the unsold Mach-E inventory wasn't just sitting on dealer lots because it spent more time in transit. The EV market is having its first growing painsFord is not alone in its struggle to match EV production with demand.

Persons: Ford, It's, Erich Merkle, Ford's, it's, they've, We've, Merkle, Tesla, Hummer, EVs, Karl Brauer, Brauer Organizations: Ford, Theory, EV, Coast Ford, East Coast, GM, Lightning, astjohn Locations: EVs, East, Midwest

☆ Auto industry braces for contentious contract talks as UAW formally kicks off bargaining
▼ + stars: | 2023-07-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +11 min

Rebecca Cook | ReutersDETROIT — United Auto Workers President Shawn Fain promised union members he'd do things differently during contract talks with the Detroit automakers this year. Playing hard ball"We're in the process of changing the culture of this union from a reactionary, defensive union, to an aggressive and offensive-minded union," Fain said last month during a Facebook livestream. The deals cover roughly 150,000 UAW members who work for the automakers. United Auto Workers members on strike picket outside General Motors' Detroit-Hamtramck Assembly plant in Detroit, Sept. 25, 2019. "The federal government is pouring billions into the electric vehicle transition, with no strings attached and no commitment to workers," Fain said earlier this year.

Persons: Shawn Fain, Rebecca Cook, he'd, Fain, Gary Jones, Bill Ford, Ford Fain, —, Jim Farley, Chuck Browning, We've, … We're, Joe Biden, John Murphy, Stellantis, Reuters Stellantis, What's, Michael Wayland, BofA's Murphy, Steve Fecht Organizations: Reuters DETROIT — United Auto Workers, Detroit, UAW, Motors, Ford Motor, Ford, Headquarters, Facebook, " Bank of America Securities, General Motors, BofA Securities, GM, Fiat Chrysler, Fiat Chrysler Automobiles, FCA Sterling Heights Assembly, Reuters, United Auto, United Auto Workers, Hamtramck Assembly, CNBC, Center for Automotive Research, Deere, Co, Caterpillar, Ultium Cells, LG Energy, Tech Center Locations: Detroit, Illinois, Stellantis, Sterling Heights , Michigan, Hamtramck, Lordstown , Ohio, Warren , Michigan

☆ Here's a rapid-fire update on all 35 stocks in our portfolio — including 2 rating changes
▼ + stars: | 2023-07-12 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +14 min

Here's a rapid-fire update on all 35 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Coterra Energy (CTRA): At roughly 10 times forward earnings, Jim said he'd classify Coterra shares as dirt cheap. Estee Lauder (EL): We're downgrading Estee Lauder to a 2 rating Wednesday, meaning we're no longer recommending investors buy the stock at current levels. But we're sticking with Estee Lauder because eventually we expect China's economy to turn around, and with it EL's stock price. The semiconductor firm, which has seen its stock price nearly triple this year, is reportedly considering taking a long-term stake in chip designer Arm Holdings.

Persons: Jim Cramer's, Jim, he's, We're, Walt Disney, Bob Iger, we're, Estee Lauder, Emerson, Locker, Mary Dillon's, Locker's financials, Eli Lilly, Vimal Kapur, Johnson, Morgan Stanley, Morgan Stanley's, he'd, Palo, Laxman Narasimhan, Bud, Stanley Black, Decker, TJX's, Wells Fargo, We've, Wynn, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Devices, AMD, Investors, Bausch Health, KKR, Costco Wholesale, Costco, Coterra Energy, ESPN, The, Disney, Emerson, National Instruments, Rockwell Automation, Ford, United Auto Workers, GE Healthcare, Halliburton, HAL, Honeywell International, Honeywell, Johnson, Linde, LIN, Novo Nordisk, Meta, Microsoft, Activision Blizzard, Nvidia, Arm Holdings, Palo Alto Networks, Palo Alto, Natural Resources, Procter & Gamble, Constellation Brands, TJX, Wynn Resorts, WYNN, Jim Cramer's Charitable Locations: India, Israel, California, U.S, Corona, Wells, Las Vegas , Boston, Macao

Rising inventories and price-cutting could represent only a short-term pause in EV market growth. If production of EVs continues to outpace demand, automakers will have to choose between slashing prices and profit margins, or slowing assembly lines. More than 90 new EV models are expected to hit the U.S. market through 2026, according to AutoForecast Solutions. In a statement, Volkswagen's U.S. sales arm said "we have seen some softening in EV sales in the U.S. recently" as supply chain bottlenecks have eased, allowing for increased production. Wakefield said it is too soon to declare that U.S. EV demand has hit a plateau.

Persons: Tesla, EVs, Cox, Ford, Vitaly Golomb, Biden, Price, Mark Wakefield, Wakefield, Joe White, Nick Zieminski Organizations: DETROIT, EV, North, AutoForecast Solutions, Dealers, General Motors, Ford, Hyundai, Toyota, Cox Automotive, U.S, Cox, GM, Cadillac, GMC, Volkswagen, U.S ., VW, Industry, EVs, Thomson Locations: U.S, North America, United States, Texas, Washington, Tennessee

But as local economic development officials worked with Ford and other prospective investors, it became clear they needed a much bigger footprint. The rest has been earmarked by economic development officials for suppliers and other developments. In Marshall, residents petitioned to hold a referendum on the project, gathering over 800 signatures in a city of 6,800. She believes factory workers will move to Marshall to work for Ford. He notes that the factory he works at, in nearby Battle Creek, has struggled to find skilled workers.

Persons: Fred, Joan Chapman, Ben Klayman MARSHALL, Fred Chapman, ”, That’s, Chapman, Joe Biden, Gabby Bruno, Glenn Kowalske, “, Ford's Bruno, Ford, Bruno, CATL's, James Durian, Durian, Sue Damron, Marshall, he’s, Timothy Aeppel, Ben Klayman, Dan Burns, Nick Zieminski Organizations: Ford Motor Co, Ford Motor, Census, Ford, Amperex Technology Co, Amazon, Marshall, Economic Development Alliance, Thomson Locations: Marshall Township , Michigan, U.S, Mich, Marshall, Kalamazoo, New York City, China, Calhoun County, Battle, Mexico, New York, Marshall , Michigan

☆ Explainer: What's behind China's failed 'truce' in EV price war?
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +5 min

[1/2] A Tesla Model 3 electric vehicle (EV) is displayed at the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022. Toyota (7203.T) offered a discount on its bZ4X EV, and Nissan (7201.T) offered an incentive on its Ariya EV. Volkswagen's (VOWG_p.DE) joint ventures with SAIC and FAW also announced price cuts in China on their ID-series EVs on Friday. AlixPartners said while China's EV market will continue to grow rapidly, intensifying competition and excess capacity will also drive a shakeout. In one example, Chinese automakers have invested $1.4 billion in Thailand since 2020, now dominating the Thai EV market after taking share from the Japanese brands that have long operated there.

Persons: Florence Lo, Tesla, CAAM, Li Auto, Liu Xu, furloughs, AlixPartners, Zhang Yan, Kevin Krolicki, Tom Hogue Organizations: Tesla, Fair for Trade, Services, REUTERS, China Association of Auto Manufacturers, stoke, HK, Volvo, Chery Automobile, Global, Ford, Toyota, Nissan, EV, General Motors, Honda, Consultancy, Consumers, SAIC, GAC, Dongfeng, FAW Group, China's Ministry of Industry, Information Technology, FAW, National Strategy Institute of Tsinghua University, International, Hyundai, Thai EV, Thomson Locations: Beijing, China, Shanghai, Europe, Southeast Asia, Thailand, Singapore

☆ EV sales: Hyundai overtakes GM, but Tesla's U.S. dominance continues
▼ + stars: | 2023-07-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Meanwhile, Hyundai — including the Kia brand that's owned by the same parent company — increased its EV sales by roughly 11% during that time to 38,457 units. GM, which was second in EV sales through the first quarter, more than quadrupled electric car and truck sales to 36,322 units through June compared with a year earlier. And Volkswagen more than doubled EV sales to 26,538 units sold through June. Scott Mlyn | CNBCGM's EV sales thus far have been disappointing, especially when it comes to new models with the automaker's "Ultium" battery technologies. Correction: GM was second in EV sales through the first quarter of this year.

Persons: Brandon Bell, Tesla, Andrew Frick, hasn't, Elon Musk, Musk, disappoints Hyundai's, Randy Parker, we're, Parker, Scott Mlyn, Cadillac Lyriq, Mary Barra, Barra, It's, —, Phil LeBeau, Lora Kolodny Organizations: Getty, Hyundai Motor, General Motors, Motor Intelligence, Hyundai, Kia, GM, Ford Motor, EV, Ford, U.S, Automotive, Biden, Hyundai Motor America, New York Auto Show, CNBC, GMC Hummer, Cadillac, Chevrolet, Aspen Ideas, Chevrolet Silverado, Detroit Locations: Austin , Texas, U.S, Mexican, Texas, North America, South Korea

☆ Elon Musk’s secret game plan for Tesla
▼ + stars: | 2023-07-06 | by ( Adam Rogers | ) www.businessinsider.com time to read: +9 min

"Tesla is happy to support other EVs via our Supercharger network," Tesla CEO Elon Musk tweeted, replying to President Joe Biden's announcement. And by tapping into a vehicle's battery management system, Tesla may be able to get even more data from its competitors. There were jokes for years that Tesla was actually a carbon-credit company pretending to be a car company. For a while it looked as if it were going to be an insurance company pretending to be a car company. Now, I think it's going to be a data company — which may just be the thing that winds up keeping it afloat.

Persons: who's, Tesla, Elon Musk, Joe Biden's, Mike Ramsey, it's, Samrat Acharya, Ford, Elon, they'll, Big, Adam Rogers Organizations: Ford, GM, Gartner, cybersecurity, Twitter, Big Locations: United States, Teslas, Silicon Valley

☆ VW to test self-driving in retro-styled electric Microbuses
▼ + stars: | 2023-07-06 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —Ten self-driving electric Volkswagen buses will soon cruise the streets of Austin, Texas, testing autonomous driving technology. Buzz electric vans will test technology VW is working on with Mobileye, an Israeli company once owned by Intel that also works with BMW, General Motors and Ford. VW won’t operate it’s own taxi service, though, as some other autonomous driving companies have planned, the company said in its announcement. VW joins joins companies such General Motors’ Cruise, which is also operating self-driving vehicles in Austin, and Waymo, the autonomous driving subsidiary of Google’s parent company Alphabet. Both automakers said at the time they would hire Argo AI staffers to support their own autonomous driving efforts.

Persons: Ford, Vokswagen, Motors ’, Mobileye, van Organizations: CNN, Argo, VW, Intel, BMW, General Motors, Ford, Volkswagen, Motors, Austin, Miami, automaker’s, Vehicles Locations: Austin , Texas, Austin, United States, Germany, California, Arizona, New York City, Washington , DC, Pittsburgh

☆ 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

☆ Ford’s U.S. Sales Rose 10% in the Second Quarter
▼ + stars: | 2023-07-06 | by ( Neal E. Boudette | More About Neal E. Boudette | ) www.nytimes.com time to read: +1 min

Ford Motor said Thursday that its new-vehicle sales rose 10 percent in the three months between April and June, thanks to robust demand for trucks. The automaker sold 531,662 motor vehicles, up from 483,688 in the second quarter of the year, as sales of pickups, delivery vans and heavy trucks increased 26 percent. The gain in truck sales more than offset a decline of nearly 3 percent in sales of electric vehicles. Ford sold 14,843 battery-powered cars and trucks in the quarter, down from 15,273 in the same period a year earlier. The upgrade work mainly affected the Mustang Mach-E, whose sales declined 21 percent in the second quarter.

Persons: Ford Organizations: Ford Motor, Ford

Ford Motor Company's electric F-150 Lightning on the production line at their Rouge Electric Vehicle Center in Dearborn, Michigan on September 8, 2022. DETROIT – Ford Motor 's second-quarter sales increased 9.9% from a year earlier, spurred by significant sales gains of its F-Series trucks. "Our EV sales continue to grow. Improved Mustang Mach-E inventory flow began to hit at the end of Q2 following the retooling of our plant earlier this year, which helped Mustang Mach-E sales climb 110% in June." Ford's electric vehicle sales remain small for now: EVs represented just 2.8% of the automaker's total sales during the second quarter, while traditional internal combustion engines represented roughly 91% of sales.

Persons: Ford, Andrew Frick, EVs Organizations: Ford, Electric Vehicle, DETROIT, Detroit, EV Locations: Dearborn , Michigan

☆ It's harder to charge an EV than too fill up a tank of gas right now: Fmr. Ford CEO on low EV demand
▼ + stars: | 2023-07-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's harder to charge an EV than too fill up a tank of gas right now: Fmr. Ford CEO on low EV demandFormer Ford CEO Mark Fields joins 'Last Call' to talk the EV push and if the demand is matching the enthusiasm from automakers.

Persons: Mark Fields Organizations: Ford, EV

CNN —The White House is closely monitoring the upcoming labor talks in the US auto industry, negotiations that could put it at odds with the traditional support of a major union. “As a White House point person on key issues related to the UAW and Big Three, Sperling will help ensure Administration-wide coordination across interested parties and among White House policymakers,” a White House official confirmed to CNN. Sperling, the official added, “will work hand-in-glove with Acting [Labor] Secretary Julie Su on all labor-related issues.” He will need to coordinate across multiple White House offices and other stakeholders across government for this new task. So the shift to EVs, supported by the Biden administration, is a major concern of the UAW heading into these talks. The current UPS contract expires July 31, and the union rank and file has already authorized an August 1 strike without a new deal.

Persons: Joe Biden, Gene Sperling, Sperling, Carter, Obama, Biden, ”, “, Julie Su, Liz Shuler, ” Sperling, Bill Clinton, Barack Obama Organizations: CNN, United Auto Workers, UAW, Big, White House, Labor, White, General Motors, Ford, Dodge, Chrysler, GM, Anderson Economic Group, AFL, UPS, Teamsters, Treasury Department, National Economic Locations: Michigan, Detroit

☆ Elon Musk convinced the industry to charge cars his way and Tesla owners are the biggest winners
▼ + stars: | 2023-07-04 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +4 min

But actually, Tesla drivers are likely to have more places to juice up going forward. Tesla drivers are about to have a lot more places to plug in. Naturally, some Tesla owners are worried about sharing space at Supercharger stations — the primary longtime differentiator between Tesla and other EV makers — once Ford and GM EV drivers get access. The auto industry has struggled for years to agree on a standard for EV charging, and it appears Tesla is finally winning the battle. "Now, it's going to make a lot more sense for Tesla to roll out charging stations that much faster throughout the country."

Persons: Tesla, Loren McDonald, McDonald, Cathie, Wood, It's Organizations: Ford, GM EV, Elon Musk's, EV, GM, Ark Invest, CNBC Locations: Elon, North America, America

☆ Why the electric vehicle boom could put a major strain on the U.S. power grid
▼ + stars: | 2023-07-01 | by ( Katie Brigham | ) www.cnbc.com time to read: +9 min

Over half of all new cars sold in the U.S. by 2030 are expected to be electric vehicles. That could put a major strain on our nation's electric grid, an aging system built for a world that runs on fossil fuels. Major grid infrastructure needsCharging electric vehicles is quite electricity intensive. Larger electric vehicles such as the Ford F-150 Lightning would generally use more electricity than a central AC unit in a large home. The utility is tied to a four-year funding cycle for grid infrastructure upgrades, and its last funding request was in 2021.

Persons: That's, we've, Rob Gramlich, Gramlich, Lydia Krefta, Krefta, David Paul Morris, Aram Shumavon, Shumavon, we're, Sen, Joe Manchin, Joe Biden, Tesla Organizations: Rapid Energy, Princeton University, Grid, California Public Utilities Commission, EV, Tesla, Ford, Workers, Power Services, Pacific Gas & Electric, Bloomberg, Getty, Nissan Leaf, Ford Motor Company Locations: U.S, California, Northern, Central California, Healdsburg , California

☆ Polestar is the latest EV maker to announce a move to Tesla's North American charging standard
▼ + stars: | 2023-06-29 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +2 min

Polestar owners in North America will have access to Tesla's charging network starting next year. New Polestar vehicles sold in North America will come standard with the Tesla-designed North American Charging Standard, or NACS, plug starting in 2025. Most non-Tesla EVs and charging stations in North America use a plug design called CCS, which stands for Combined Charging System. Tesla EVs can use CCS chargers with an adapter, but currently only Tesla EVs can use Tesla chargers. Tesla's plug design was proprietary until November, when the company published the technical details of its system and made it available to other automakers and makers of EV chargers.

Persons: Polestar, Tesla, Thomas Ingenlath Organizations: North America, Volvo, Ford Motor, General Motors, CCS, SAE International Locations: North America, Swedish, North

An upcoming study from researchers at Stanford University offers a new way to trace far-flung smoke and pollution back to individual wildfires of origin. What’s burning in a wildfire determines what kind of pollution is in the smoke. Dr. Ford and others have studied wildfire smoke patterns, as well as the resulting exposure to particulate matter pollution. But the Stanford researchers have pulled off something new by putting the two together, she said, especially over so many years and so much land area. Aside from that, Dr. Lin thought the Stanford study would be very useful in figuring out the real human toll of wildfire smoke.

Persons: ”, Jeff Wen, Mr, Wen, Bonne Ford, it’s, Ford, John Lin, Lin, Stanford Organizations: Stanford University, Stanford, . Canadian Forces, Reuters, Seaboard, Colorado State University, University of Utah Locations: United States, U.S, Mistissini, Quebec, Georgia, Florida

☆ Ford to lay off workers as it focuses on electric vehicles
▼ + stars: | 2023-06-27 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +1 min

New York CNN —As Ford shifts to producing more electric vehicles, it expects to lay off a number of employees, mostly engineers, in North America over the coming days. “This is related to the Ford+ growth plan we introduced in 2021 and have been increasingly implementing over the past year,” said Ford spokesman T.R. As part of the so-called Ford+ plan, in 2021 the company was split into three broad operating units: Ford Blue for internal combustion-powered vehicles, Ford Model E for electric vehicles and Ford Pro focused on commercial vehicles. Ford executives said in March that the company will lose $3 billion this year on sales of electric vehicles but still expects to meet its profit targets of $9 billion to $11 billion for the year. It also expects to begin earning profits on electric vehicles soon.

Persons: ”, T.R, Reid, ” Ford, Jim Farley Organizations: New, New York CNN, Ford, Ford Pro Locations: New York, North America, United States, Canada

☆ Two senators urge automakers not to remove AM Radio from new cars
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, June 23 (Reuters) - Two senators on the U.S. Commerce Committee on Friday wrote seven major automakers urging them not to remove AM Radio from new vehicles. Senator Ted Cruz, the panel's top Republican, and Democrat Ed Markey wrote to BMW (BMWG.DE), Volkswagen (VOWG_p.DE), Tesla (TSLA.O), Mazda (7261.T), Polestar (A4N1y.F), Rivian (RIVN.O) and Volvo Cars asking them to commit by July 7 to including AM Radio in new vehicles. Ford Motor (F.N) said last month it would reverse course and not remove AM broadcast radio as a feature in 2024 model vehicles after lawmakers introduced legislation to require them. Reporting by David ShepardsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Ted Cruz, Ed Markey, David Shepardson Organizations: U.S . Commerce, Republican, BMW, Volkswagen, Mazda, Volvo Cars, AM Radio, Ford, Thomson

☆ Ford's electric future looks bright, as the automaker doubles down on batteries and cuts costs
▼ + stars: | 2023-06-23 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

As CEO Jim Farley continues to rein in costs, Ford is preparing to enact a new round of layoffs in the coming weeks, according to a Wall Street Journal report Thursday. Nonetheless, news of the potential layoffs come after Farley told Jim this week that Ford still needs bring down costs at its EV division. The company has estimated its EV costs are roughly $7 billion higher than its competitors. F 1M mountain Ford stock performance month-to-date. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Farley, Ford, Jim Cramer, Farley, Jim, We're, Jim Cramer's, Rebecca Cook Organizations: Ford, U.S, Wall, U.S . Energy Department, SK, Blue, SK —, EV, it's EV, CNBC, Ford Motor Co, Amperex Technology Locations: Korean, U.S, Marshall , Michigan, Romulus , Michigan

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