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Search resuls for: "Vehicle Division"


10 mentions found


☆ Ford Projects $3 Billion Loss on EV Business for 2023
  + stars: | 2023-03-23 | by ( Mike Colias | ) www.wsj.com   time to read: 1 min
Ford Motor Co. expects to lose about $3 billion on its electric-vehicle business this year, a reminder of how far traditional auto makers have to go in turning their EV portfolios profitable. Ford disclosed the figure Thursday while outlining a new financial-reporting structure intended to give investors better insight into the performance of its three business units: Model e, its EV business; Ford Blue, the traditional part of the company that sells internal-combustion-engine vehicles; and Ford Pro, its sizable commercial-vehicle division.
☆ Ford Says It Will Lose $3 Billion on EVs This Year as It Touts Startup Mentality
  + stars: | 2023-03-23 | by ( Mike Colias | ) www.wsj.com   time to read: 1 min
Ford Motor Co. expects to lose about $3 billion on its electric-vehicle business this year, a reminder of how far traditional auto makers have to go in turning their EV portfolios profitable. Ford disclosed the figure Thursday while outlining a new financial-reporting structure intended to give investors better insight into the performance of its three business units: Model e, its EV business; Ford Blue, the traditional part of the company that sells internal-combustion-engine vehicles; and Ford Pro, its sizable commercial-vehicle division.
☆ Ford says it will burn $3 billion on EVs this year, in a bleak signal for the cars that underpin its future
  + stars: | 2023-03-23 | by ( Nora Naughton | ) www.businessinsider.com   time to read: +3 min
Ford Chief Financial Officer John Lawler rationalized the expected losses on a call with reporters by explaining that Ford Model e exists as an "EV startup within Ford." As part of this restructuring, Ford created Model e, the EV division, Ford Blue, the gas-powered vehicle division, and Ford Pro, the commercial vehicle division. For now, Ford says, its Blue and Pro divisions will be driving profits while Model e loses money. While Model e is slated to lose money this year, Ford provided profitable projections for its Blue and Pro divisions this year. For 2023, Ford Blue is expected to earn about $7 billion for the company, while Ford Pro's earnings before taxes are expected to near $6 billion, the company said Thursday.
☆ Why Silicon Valleys massive layoffs haven't hit Detroit automakers
  + stars: | 2023-02-05 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com   time to read: +4 min
The auto industry could benefit from tech layoffs. But the auto industry doesn't need to undergo massive cuts — mostly because they already have over the past few years. Tech companies, meanwhile, had enjoyed a decade of unmitigated growth thanks to low interest rates and a flood of new investor money. "Legacy auto is underpopulated in order to fully go after the future of mobility — primarily, electrification, batteries, and software." The auto industry could benefit from tech layoffsWhile tech sheds thousands of jobs, automakers are desperate for workers.
☆ What to watch for when 9 Club holdings report earnings on Thursday
  + stars: | 2023-01-30 | by ( Kevin Stankiewicz | ) www.cnbc.com   time to read: +11 min
So far, earnings season has been mixed — we've seen some strong results from Club holdings Morgan Stanley (MS) and Halliburton (HAL). Projected revenue: $4.58 billion Projected EPS: $1.30 Conference call at 9:30 a.m. Projected revenue: $7.33 billion Projected EPS: $1.81 Conference call at 10 a.m. Projected revenue: $9.26 billion Projected EPS: $2.51 Conference call at 8:30 a.m. Projected revenue: $121.19 billion Projected EPS: $1.94 Conference call at 5 p.m.
☆ Rejigged Renault-Nissan alliance looks headless
  + stars: | 2023-01-30 | by ( Pierre Briancon Katrina Hamlin | Pierre Briancon | Katrina Hamlin | ) www.reuters.com   time to read: +4 min
LONDON/HONG KONG, Jan 30 (Reuters Breakingviews) - Renault (RENA.PA) and Nissan (7201.T) have helped their 24-year alliance move forward after four years of stalemate. The deal marks the end of the French group’s domination of its Japanese partner, and addresses festering governance issues. The voting rights of the Nissan shares transferred to the trust will be "neutralised" for most decisions, the statement said. Renault shares fell 2.7% to 37.16 euros, as of 0837 GMT. Nissan shares were largely unchanged at 453.9 yen.
☆ Tech giants have cut tens of thousands of jobs. Automakers are ready to hire them.
  + stars: | 2023-01-29 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com   time to read: +4 min
But the auto industry doesn't need to undergo massive cuts — mostly because they already have over the past few years. Tech companies, meanwhile, had enjoyed a decade of unmitigated growth thanks to low interest rates and a floor of new investor money. As these companies enter a new phase and a different economy, the tech industry is experiencing its first real belt-tightening. The auto industry could benefit from tech layoffsWhile tech sheds thousands of jobs, automakers are desperate for workers. "The war for talent in the automotive industry is still raging and the talent pool is still relatively small."
☆ DHL buying Ford's electric cargo vans showcases Club holding's EV strategy
  + stars: | 2022-12-05 | by ( Kevin Stankiewicz | ) www.cnbc.com   time to read: +4 min
The news DHL will acquire 2,000 Ford E-Transit cargo vans by the end of 2023, the companies announced Monday. DHL— owned by Germany's Deutsche Post — said it has already received some of the E-Transit vans, adding them its global fleet of roughly 27,000 electric vans. Ford has sold roughly 5,800 E-Transit vans through November , and the vehicle has become the top-selling commercial vehicle in North America, according to the company. One of those is called Telematics, the official name for the fleet management software DHL will use under Monday's deal. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
☆ Renault to Separate EV Unit in Sweeping Overhaul
  + stars: | 2022-11-08 | by ( Nick Kostov | ) www.wsj.com   time to read: 1 min
PARIS— Renault SA said it would split itself into several divisions, putting its core business making conventionally powered cars into a joint venture with a Chinese partner and detailing plans for a separate stock-market listing of its electric-vehicle division. The restructuring, one of the most radical in the French auto maker’s 124-year history, will leave Renault mostly focused on electric vehicles. Executives hope the overhaul will attract investment and give it the wherewithal to tackle the expensive transition away from the internal combustion engine that the entire auto industry is grappling with.
☆ Ford: Gas cars are a growth business
  + stars: | 2022-09-21 | by ( Peter Valdes-Dapena | Cnn Business | ) edition.cnn.com   time to read: +1 min
Except it's not dying, said Kumar Galhotra, president of Ford Blue, Ford's internal combustion vehicle division. "For someone who might be nursing, I'm spending a lot of my time and investment expanding [production] capacity for all of our Ford Blue vehicles," told CNN Business. "So, to me, Ford Blue is a growth story." The new two-door Ford Mustang was able to remain all-gas-powered, Ford executives said, because the company is meeting its emissions goals with the help of electric vehicles, like the Mustang Mach-E SUV, and plug-in hybrids like the Ford Escape PHEV. (Hybrids are also included in Galhotra's Ford Blue division.)
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