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Search resuls for: "Rouge Electric Vehicle Center"


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☆ Ford plans to restart production of the electric F-150 Lightning on March 13
  + stars: | 2023-03-02 | by ( Michael Wayland | ) www.cnbc.com   time to read: +2 min
DETROIT – Ford Motor plans to restart production of its electric F-150 Lightning pickup on March 13 – more than a month after a battery issue caused one of the vehicles to catch fire. The F-150 Lightning is being closely watched by investors, as it's the first mainstream electric pickup truck on the market and a major launch for Ford. The battery issue adds to ongoing "execution issues" detailed to investors last month by Ford CEO Jim Farley that crippled the automaker's fourth-quarter earnings. Ford initially opened customer reservations for the F-150 Lightning when it was revealed in May 2021. More than 200,000 reservations were placed prior to Ford temporarily closing the process to attempt to align production with expected demand.
☆ Ford halts production and shipments of its electric F-150 Lightning due to potential battery issue
  + stars: | 2023-02-14 | by ( Michael Wayland | ) www.cnbc.com   time to read: +2 min
Ford workers produce the electric F-150 Lightning pickup on Dec. 13, 2022 at the automaker's Ford Rouge Electric Vehicle Center (REVC). DETROIT – Ford Motor has paused production and shipments of its electric F-150 Lightning pickup due to a potential battery issue, the company said Tuesday. Ford has not established a timeline for when production and the shipments will resume, Bergg said. Bergg said the company is unaware of any incidents or issues associated with the potential battery issue. The F-150 Lightning is being closely watched by investors, as it's the first mainstream electric pickup truck on the market and a major launch for Ford.
☆ Ford CEO Jim Farley's frustration builds as he vows to transform the automaker
  + stars: | 2023-02-03 | by ( Phil Lebeau | ) www.cnbc.com   time to read: +4 min
In this article F Follow your favorite stocks CREATE FREE ACCOUNTwatch nowFord CEO Jim Farley is frustrated. In short, Farley wants Ford to become a far more efficient company, and he needs it to happen quickly. Ford workers produce the electric F-150 Lightning pickup on Dec. 13, 2022, at the automaker's Ford Rouge Electric Vehicle Center. Farley said the answer is not simply cutting jobs, which has historically been the way automakers have cut costs. Will this new push to cut costs hurt Ford's growth in production and sales of electric vehicles?
☆ Take a look inside the factory where Ford's cranking out the all-electric F-150 Lightning pickup
  + stars: | 2022-12-26 | by ( Nora Naughton | ) www.businessinsider.com   time to read: +2 min
Ford is aiming to build 150,000 F-150 Lightnings a year at its revamped factory. Ford is rushing to fill 200,000 reservations for the F-150 Lightning. Ford added the new production shift in November at the same time it completed two large additions to the Dearborn, Michigan factory. Ford's aim is to build 150,000 F-150 Lightnings a year at the factory, double its initial production target. The expansions at the Rouge Electric Vehicle Center are just part of a $30 billion shift toward electric vehicles.
☆ Ford boosts production of electric F-150 Lightning pickup truck
  + stars: | 2022-12-13 | by ( Michael Wayland John Rosevear | Michael Wayland | John Rosevear | ) www.cnbc.com   time to read: 1 min
Corey Williams, plant manager at Ford's Dearborn Truck Plant and Rouge electric vehicle center, outlines the automaker's production plans for the F-150 Lightning electric pickup during a facility tour on Dec. 13, 2022. DEARBORN, Mich. — Ford Motor has added a third production shift to its Michigan plant that produces the electric F-150 Lightning as it looks to boost output. The addition of the third shift comes as the automaker is expanding the newly built facility to hit a top capacity of 150,000 units by next fall. Ford is on track to hit that previously announced production milestone, Corey Williams, plant manager of the Dearborn Truck Plant and Rouge electric vehicle center, said during a tour of the facility Tuesday. The third shift was added in November, bumping up the electric truck plant's employment from 500 to roughly 750 people.
☆ Biden's climate plan strains trade ties with Europe
  + stars: | 2022-12-06 | by ( Anna Cooban | ) edition.cnn.com   time to read: +7 min
The European Union and United States — together responsible for one third of global trade — have been at loggerheads in recent weeks over US President Joe Biden’s landmark $370 billion climate plan. While a trade war is unlikely, the plan is testing the transatlantic alliance and pushing Europe to consider mobilizing its own package of subsidies. The IRA is now law, and there is little appetite to bring it back to Congress to make substantive changes, he told CNN Business. The European Union has a couple of options at its disposal, analysts told CNN Business. On Monday, Italian Economy Minister Giancarlo Giorgetti said that the bloc should create its own “European IRA plan,” according to a Reuters report.
☆ Ford claims No. 2 spot in EVs behind Tesla – but gap remains wide
  + stars: | 2022-12-02 | by ( Michael Wayland | ) www.cnbc.com   time to read: +3 min
Tesla remains the industry leader by a wide margin, but has been losing market share as more EVs enter the market. The company reported sales of 53,752 all-electric vehicles in the U.S. through November. Tesla has long-dominated U.S. EV sales. Ford reported its EV sales as part of its November results, which overall were down 7.8% from a year earlier. Its EV sales were up from a year ago, when sales volume was very limited.
☆ 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.
☆ Ford must bring more work in-house to preserve jobs - CEO
  + stars: | 2022-11-15 | by ( Joseph White | ) www.reuters.com   time to read: +2 min
[1/2] Ford CEO Jim Farley attends the official launch of the all-new Ford F-150 Lightning electric pickup truck at the Ford Rouge Electric Vehicle Center in Dearborn, Michigan, U.S. April 26, 2022. Electric vehicles will require 40% less labor to build than current combustion vehicles, Farley told a conference in Detroit sponsored by the Rainbow PUSH Coalition, a civil rights group. Bringing production of electric vehicle motors, batteries and other components in-house was necessary to preserve jobs and to be competitive, Farley said. 1 U.S. electric vehicle maker, builds much of the hardware for its electric vehicles, including batteries. Ford has begun building an electric vehicle manufacturing complex in Western Tennessee called Blue Oval City.
☆ Stocks making the biggest moves midday: Ford, Las Vegas Sands, Nvidia, Kraft Heinz and more
  + stars: | 2022-10-10 | by ( Tanaya Macheel | ) www.cnbc.com   time to read: +3 min
Ford Motor , General Motors — Shares of Ford and GM fell 7% and 5% respectively, after UBS downgraded both stocks. The firm lowered Ford to a sell rating from neutral and cut GM to a neutral from a buy. Casino stocks — Shares of hotel and casino companies were the top decliners in the S&P 500, with Wynn Resorts down 11.6% and Las Vegas Sands losing 8.5%. Kraft Heinz — The food maker's shares rose 2% after Goldman Sachs upgraded them to buy from neutral, noting that higher profit margins haven't been fully priced into the stock. Merck — Shares of the pharmaceutical giant rose 2.8% after Guggenheim upgraded Merck to buy from neutral.
☆ Ford's fundamentals remain strong, despite CEO's recession worries, productions snags
  + stars: | 2022-09-28 | by ( Paulina Likos | ) www.cnbc.com   time to read: +5 min
"The risk has gone up for a moderate recession certainly from all the indicators we've seen," Farley said. Earlier in the week, Jim said that investors who don't own any shares of Ford should buy "aggressively" to take advantage of the yield . Chips shortage Despite the ongoing supply chain challenges, Farley said the automaker's chip shortage is improving. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Ford CEO Jim Farley poses next to a model of the all-new Ford F-150 Lightning electric pickup truck at the Ford Rouge Electric Vehicle Center in Dearborn, Michigan, April 26, 2022.
☆ Stocks making the biggest moves midday: Change Healthcare, Ford, PayPal, Humana and more
  + stars: | 2022-09-20 | by ( Carmen Reinicke | ) www.cnbc.com   time to read: +3 min
Change Healthcare – Shares of Change Healthcare jumped 6.4% after a federal judge said that UnitedHealth cannot take over the company. Humana – Shares of health company Humana gained 1% and touched an all-time high a day after the company raised its earnings guidance for the fiscal year. Cognex — Shares of machine vision systems maker Cognex jumped nearly 7% after the company raised its revenue outlook for the current quarter. Olin — The manufacturing company fell 4.6% after issuing its third-quarter EBITDA guidance. MicroStrategy – Shares of software company MicroStrategy fell 4.6% after the company announced that it made its smallest purchase of Bitcoin in two years.
☆ Ford asks dealers to invest in EVs as it chases Tesla-like profit
  + stars: | 2022-09-14 | by ( Michael Wayland | ) www.cnbc.com   time to read: +1 min
Ford CEO Jim Farley poses next to a model of the all-new Ford F-150 Lightning electric pickup truck at the Ford Rouge Electric Vehicle Center in Dearborn, Michigan, April 26, 2022. Ford is offering its dealers the option to become "EV-certified" under one of two programs — with investments of $500,000 or $1.2 million. Dealers in the higher tier, which carries upfront costs of $900,000, will receive "elite" certification and be allocated more EVs, executives said. It's an effort to elevate Ford dealers as the company seeks to grow sales across its traditional and commercial businesses as well as EVs. Tesla and other electric vehicle startups sell directly to consumers without franchised dealers.
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