Southfield/Michigan/Frankfurt: The much-anticipated alliance announcement by Volkswagen AG and Ford Motor Co. left investors feeling let down as it lacked a big-bucks plan to join forces on electric vehicles and self-driving cars.
Wall Street was hoping for a blockbuster deal, such as the billions of dollars General Motors Co. landed for its self-driving unit from Honda and SoftBank Vision Fund last year.
Ford Motor Co., losing ground in the sport utility vehicle business it helped pioneer, is rolling out the first redesign of its bread-and-butter Explorer since President Obama was in his first term and the auto industry was recovering from a debilitating recession.
This latest Ford Explorer—unveiled Wednesday by Executive Chairman Bill Ford at Ford Field, the stadium home to his family-owned football team, the Detroit Lions -- lands as the auto industry may be heading into another downturn.
New Delhi: Mahindra and Mahindra Ltd has started selling cars of Ford Motor Co. in India as the automakers expand their alliance beyond the joint development of vehicles. For the first time, Mahindra dealers are opening showrooms for Ford cars, especially in regions where the Detroit, US-based automaker does not operate one or the existing dealer has not been able to garner sufficient sales, said two people aware of the development, requesting anonymity.
Ford’s product development team in India will play an increasingly bigger role in the launch of new models in the country, according to Anurag Mehrotra, Ford India president and MD.
“India product development team is already playing a big role. Next year, we will launch our global technology and business centre. Once the centre comes into being, there will be more product development in India. In future, it will be much higher,” he said.
Ford Motor Co made a profit in India for the first time in a decade in the last fiscal year, signalling that a strategy conceived two years ago by the U.S. car manufacturer for one of the world's most competitive car markets is starting to show some success.
Under an initiative called the Emerging Market Operating Model (EMOM), Ford cut manufacturing costs by 40 per cent and is developing more vehicles locally as it moves away from its "One Ford" plan
US automaker Ford -- which announced a major restructuring in July -- unveiled plans Friday to reduce its workforce worldwide, without specifying the extent of the plan.
"We are in the early stages of reorganizing our global salaried workforce to support the company's strategic objectives, create a more dynamic and empowering work environment, and become more fit as a business," Ford said late Friday.
Ford won’t be moving production of a hatchback wagon to the United States from China — despite President Donald Trump’s claim on Sunday that his taxes on Chinese imports mean the Focus Active can be built in America.
Citing Trump’s new tariffs, Ford on August 31 said it was dropping plans to ship the Focus Active from China to America.
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