NASHVILLE, Tenn.—Tennessee is poised to spend approximately $900 million of its tax revenues on incentives, infrastructure projects and more under an agreement with Ford Motor Co., which has announced plans to build an electric vehicle and battery plant near Memphis. The sweeping spending package must be approved by the Republican-led General Assembly, which began the…
Ford to Make Electric Power Units in Northwest England
LONDON—Ford Motor Co. plans to spend up to 230 million pounds ($315 million) to turn a transmission factory in northwest England into a plant that will make electric power units for cars and trucks sold throughout Europe. The carmaker said on Monday that the Halewood plant would begin producing the power units, which replace the…
Ford to Suspend Production on Friday at Mexico Plant on Materials Shortage
October 15, 2021
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MEXICO CITY—U.S. automaker Ford Motor Co. will temporarily suspend production on Friday at its Hermosillo plant in Mexico’s Sonora state due to a shortage of materials, the plant’s labor union said on Thursday. Workers will be paid 75 percent of salaries on Friday, the union added. Ford had also suspended production from Oct. 11–12 at…
Ford to Suspend Production for Two Days at Mexico Plant on Material Shortage: Union
MEXICO CITY—U.S. automaker Ford will temporarily suspend production from Oct. 11-12 at its Hermosillo plant in Mexico because of a shortage of material, the plant’s labor union said on Thursday. Workers will be paid 75 percent of salaries on those days, the union added in a statement. Ford produces its Bronco Sport SUV at the…
GM Aims to Double Revenues by 2030 as It Drives to Pass Tesla
DETROIT—General Motors Co. Chief Executive Mary Barra told investors on Wednesday that the automaker plans to double revenue by 2030, expanding profits from combustion vehicles as it rolls out new electric vehicles and new digitally powered services in a bid to catch up with Tesla Inc. If GM succeeds, its annual revenue by 2030 would…
GM, Ford Extend Some Production Cuts Due to Chip Shortage
October 1, 2021
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WASHINGTON—General Motors Co. and Ford Motor Co. said Thursday they will cut additional production because of the nagging semiconductor shortage that has hit global auto production. GM, the largest U.S. automaker, said it will extend by two weeks a halt to Chevrolet Blazer sport utility vehicle production at its Ramos plant in Mexico because of…
Ford Asks Salaried Employees to Disclose COVID-19 Vaccination Status
Ford Motor Co. on Tuesday became the second Detroit automaker to ask salaried employees to reveal their vaccination status against COVID-19 in a bid to comply with wider federal guidelines. Ford said salaried employees were required to submit their vaccination status against COVID-19 by Oct. 8 but the process was voluntary for its hourly employees…
NTD Business Full Broadcast (Sept. 28)
Consumer confidence falling to a 7-month low, what are people concerned about? The energy crisis continues in Europe and China. One Chinese official is desperate for more coal imports. Ford announces its largest manufacturing investment ever. It says it will lead America’s transition to electric vehicles.
Ford, South Korea to Invest $11.4 Billion to Add Electric F-150 Plant, Three Battery Factories
September 28, 2021
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DETROIT/SEOUL—Ford Motor Co. and its Korean battery partner SK Innovation will invest $11.4 billion to build an electric F-150 assembly plant and three battery plants in the United States, accelerating the U.S. automaker’s push into electric vehicles. Ford said on Monday it now expects to have 40 percent to 50 percent of its global vehicle…
Ford Wakes up Badly Burnt From Its India Dream
NEW DELHI—When Ford Motor Co.Early Misstep built its first factory in India in the mid-1990s, U.S. carmakers believed they were buying into a boom—the next China. The economy had been liberalised in 1991, the government was welcoming investors, and the middle class was expected to fuel a consumption frenzy. Rising disposable income would help foreign…
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