San Francisco: Ford Motor Co said on Friday it would acquire San Francisco-based shuttle service Chariot with plans to expand the service globally, as the carmaker expands beyond auto manufacturing and takes another step toward becoming a mobility company.

The Detroit automaker said Chariot plans to expand internationally, moving into five more markets in the next 18 months. Terms of the deal were not disclosed.

DETROIT (MICHIGAN): Ford Motor Co. intends to have a fully driverless vehicle on the road within five years. The car will initially be used for commercial ride-hailing or ride-sharing services, with sales to consumers coming later.

"This is a transformational moment in our industry and it is a transformational moment for our company," said CEO Mark Fields, as he announced the plan yesterday at Ford's Silicon Valley campus in Palo Alto, California.

Ford India has cut prices of its Figo hatchback and the Asipire sedan to increase sales of its models. Ford India said that it has slashed prices on the two models in the range of Rs 25,000 and Rs 91,000.

The move comes at a time when Maruti Suzuki and Hyundai Motors India have hiked the prices of their models citing an increase in the input costs because of rupee depreciation.

Last week, ET reported that the big three US carmakers— General Motors, Ford Motor and Fiat Chrysler Automobiles (a US-Europe combine) — will push back on investments or review strategy in India. Long-time watchers of the Indian automobile industry were hardly surprised by the turn of events. Ford and GM have faced fluctuating fortunes while Chrysler after delaying entry into India twice in the past, is finally entering.

The pressure of timely implementation of BS VI emission norms and a decision by American auto major Ford against participating in the electric and hybrid consortium will slow down the electric mobility plans of the government.

Ford’s India arm had earlier expressed willingness to join hands with other Indian auto companies like Maruti Suzuki, M&M, Mahindra Reva and Tata Motors in a consortium to create a supplier base of hybrid and electric vehicle parts.

The US car major Ford launched its iconic sports car 'Mustang' in India, priced at Rs 65 lakh (ex-showroom Delhi).

This is the first time in Mustang's 52-year history that the company has launched the model in India.

The US-based Ford Motor Company has become the first automaker to formulate and test new foam and plastic components using carbon dioxide (CO2) as feedstock. Researchers expect to see the new biomaterials in Ford production vehicles within five years.

Formulated with up to 50 percent CO2-based polyols, the foam is showing promise as it meets rigorous automotive test standards. It could be employed in seating and underhood applications, potentially reducing petroleum use by more than 600 million pounds annually – enough to fill nearly 35,000 American homes.

Automaker Ford India is recalling 48,700 units of its compact sports utility vehicle EcoSport to rectify faulty fuel and brake lines as well as rear seat backrest.

"Ford India is issuing two voluntary safety recalls to correct potential concerns with certain Ford EcoSport vehicles," Ford India said in a statement.

Following the footsteps of Nissan, Mahindra and other original equipment manufacturers (OEMs), Ford Motor is planning to set up a new global technology and business centre in Chennai. It would be spread across 28 acres housing a R&D and product testing centre. The firm has invested around $2 billion in India.

While industry sources said the investment would be around Rs 2,500 crore, Ford's spokesperson refused to share details.

The combination of low gasoline prices and record auto sales in the United States is making for good times in the auto industry, and nowhere is that more evident than at Ford Motor.

Ford, the No. 2 American carmaker, on Thursday reported a record $2.5 billion in net income for the first three months of the year, an increase of 113 percent and more profit than in any other quarter in its 112-year history.

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