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Ford Motor
Ford Motor Co. announced Friday that it will cut around 1,100 jobs at its plant in the eastern Spanish city of Valencia. The cuts are in addition to the 2,300 layoffs largely in Germany and the U.K. that the automaker announced last month as part of a leaner, more competitive cost structure in Europe. Ford Spain said in a statement that it notified unions on Friday of what it said was a profound restructuring of its operations, which comes even as Ford champions the Valencia plant as its preferred site to assemble next-generation electric vehicles on the continent. The plant is Ford's only such facility in Spain and employed 5,400 people. Ford has said its strategy to offer an all-electric fleet in Europe by 2035 has not changed and that production of its first European-built electric car is due to start later this year. The cuts were mainly due to the already announced discontinuing production of the S-Max and Galaxy models in April 2023, Ford Spain said in an email. In January,
US automaker Ford has stopped the production and shipments of its electric F-150 Lightning pickup owing to a battery issue.
Ford said Tuesday that it will cut 3,800 jobs in Europe over the next three years in an effort to streamline its operations as it contends with economic headwinds and increasing competition on electric cars. The automaker said that 2,300 jobs will go in Germany, 1,300 in the UK and 200 elsewhere on the continent. It said that its strategy to offer an all-electric fleet in Europe by 2035 is unchanged and that production of its first European-built electric car is due to start later this year. The company said it is looking for a leaner, more competitive cost structure for Ford in Europe. It said that it will embark on consultations with the intent to achieve the reductions through voluntary separation programmes. Ford aims to cut 2,800 of the jobs in engineering by 2025, a result of the transition to electric cars that are less complex, though it plans to keep around 3,400 engineering jobs in Europe. The remaining 1,000 jobs will be cut on the administrative side. These are difficu
Ford shares fell as much as 11% Friday in New York, the biggest intraday decline since September 20
The two Detroit majors are struggling with lingering employee problems as they seek to drive out of the Indian market
Tata Steel has inked an agreement with American carmaker Ford to supply "zeremis green steel" from its Netherlands-based IJmuiden plant after the unit shifts to hydrogen-based steel making. In Europe, Tata Steel is working to switch to low-carbon technologies to manufacture steel in the UK and the Netherlands. The company's both businesses Tata Steel UK and Tata Steel Nederland have been developing detailed plans for transition to low CO2 technologies in line with the company's goal to produce CO2-neutral steel by 2050 in Europe, company's CEO & MD T V Narendran and Executive Director and CFO Koushik Chatterjee earlier said. "Tata Steel Nederland has signed a memorandum of understanding with Ford in Europe to supply the carmaker with Zeremis green steel once the IJmuiden steelworks switches to green hydrogen-based steelmaking," a statement said. The agreement makes Ford the first customer committed to offtake the green steel that Tata Steel plans to produce via the hydrogen route,
Shares opened at a more than two-month low and if losses hold, Tesla would lose nearly $58 bn in m-cap in a single day, more than the market value of General Motors as well as Ford Motor
The US-based car maker Ford Motor has reportedly confirmed that it is laying off roughly 3,000 employees and contract workers, with the cuts primarily affecting staff in the US, Canada and India
Rising prices for batteries, raw materials and shipping are putting additional pressure on Ford and other automakers
A Georgia jury has returned a $1.7 billion verdict against Ford Motor Co. involving a pickup truck crash that claimed the lives of a Georgia couple, their lawyers confirmed. Jurors in Gwinnett County, just northeast of Atlanta, returned the verdict late last week in the yearslong civil case involving what the plaintiffs' lawyers called dangerously defective roofs on Ford pickup trucks, lawyer James Butler Jr. said Sunday. Melvin and Voncile Hill were killed in April 2014 in the rollover wreck of their 2002 Ford F-250. Their children Kim and Adam Hill were the plaintiffs in the wrongful death case. I used to buy Ford trucks, Butler said on Sunday. I thought nobody would sell a truck with a roof this weak. The damn thing is useless in a wreck. You might as well drive a convertible. Ford did not immediately respond to requests for comment Sunday. But in closing arguments, lawyers hired by the company defended the actions of Ford and its engineers. The Michigan-based automaker sought
Company revises severance package to 121 days from 115 earlier
Ford said it is aware of six reports alleging property damage and four reports of injuries potentially related to the recall population
Ford Motor has recalled nearly 49,000 Mustang Mach-E electric crossovers over battery safety concerns, and told dealers to temporarily halt selling the popular electric vehicle
Tesla added about $84 billion to its stock-market value on Monday, more than Ford's market capitalisation, after the electric-vehicle maker said it is planning a second stock split in about 2 years
Apple stops sales of iPhones and other products in Russia, makes changes to its Maps app to protect civilians in Ukraine.
To survive in a world where the likes of Ford, Renault or Stellantis can make hundreds of thousands of vans a year, superior software or technology could make all the difference for new entrants
Tamil Nadu, a state of more than 70 million people and one of the country's most industrialised, is sometimes called the "Detroit of Asia".
After a year of disruptions, businesses were better prepared in 2021, not only adjusting to the new normal but also making the most of it
Ford Motor Co. is in talks with a computer chip maker to shore up its semiconductor supplies and avoid a repeat of this year's auto factory shutdowns caused by semiconductor shortages.
Electric vehicle startup Lucid Motors market value has exceeded Ford Motor Group to $89.9 billion, after it closed at $55.52 a share, Al Arabiya reported.