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Tag: Ford

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Business

Ford halts shipments of SUVs, trucks, sports cars to China

Ford has paused shipments of its SUVs, pick-up trucks, and sports cars to China as it faces growing challenges from retaliatory tariffs. With rates as high as 150%, these tariffs are creating major hurdles for American automakers in the Chinese market. In a statement on Friday, Ford acknowledged the impact of the current trade environment, […]

Coscharis launches Ford Territory SUV
Business

Coscharis launches Ford Territory SUV

Coscharis Motors, the sole distributor of the Ford brand in Nigeria, has unveiled the all-new Ford Territory Sport Utility Vehicle. The Punch reported that the Deputy Group Managing Director of Coscharis, Fred Amobi, unveiled the Ford Territory, the newest model in the Coscharis product lineup, at the Coscharis Ford Showroom in Lagos. The SUV is aimed at […]

Ex-Apple VP Peter Stern to lead Ford Motor's new business services
Tech

Ex-Apple VP Peter Stern to lead Ford Motor’s new business services

Automotive company, Ford Motor announced on Monday the appointment of a former Apple Inc executive, Peter Stern, as the president of its newly-established integrated services business. This division is primed with the critical mission of conceiving and promoting cutting-edge software solutions for Ford’s expansive array of vehicles. With a storied background encompassing leadership roles in […]

Car sales slump 14% in six months - Report
Business

Volkswagen partners Ford, others to build EV ecosystem in Indonesia

The Indonesian investment minister, Bahlil Lahadalia has announced that Volkswagen plans to create an electric vehicle battery ecosystem in Indonesia, and has partnered with miner Vale, Ford, and Chinese battery minerals producer Zhejiang Huayou Cobalt. According to Reuters, the move comes as automakers are looking to reduce the cost of producing EV batteries, which make […]

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Business

Ford launches electric Courier van in Europe 

Ford Motor Co has launched a new electric Courier van for European business customers in an attempt to compete with electric van startups such as Arrival SA. According to Ford, the revamped lineup of smaller commercial vans for the European market will also include gasoline and diesel models. The chief of Ford Pro,Ted Cannis explained […]

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Business

Ford to simplify products starting 2024

Ford has announced plans to simplify its product lineup starting in the  2024 model year, which means they will likely produce fewer variations of the same model. The announcement was made by Ford’s product development chief Jim Baumbick, at a conference hosted by Bank of America. According to Reuters, Ford plans to increase the number […]

How Ford's EV business lost $2bn in 2022 - Report
Business

How Ford’s EV business lost $2bn in 2022 – Report

Ford Motor Company announced on Thursday that its electric car business lost $2.1 billion in operational profit last year, which was more than offset by $10 billion in operating profit from its internal combustion and fleet businesses. The Detroit carmaker anticipates similar results in 2023, projecting an adjusted loss for its EV unit of $3 […]

Business

Ford to layoff 1,100 workers in Spain

One of the leading automakers, Ford, plans to layoff 1,100 workers at its plant located in Valencia in eastern Spain, according to one of its spokesmen. According to Reuters, the spokesperson said that the job cuts which were shared with the union are part of the company’s plan to make changes to its car production […]