Michael Martinez Ford reporter Martinez-Michael is Ford reporter for Automotive News. [email protected] 313-446-1644 Mobile Number: 734-652-0718 See All Staff Page Recent Stories Ford EVs will connect to 12,000 Tesla superchargers Starting in 2025, Ford EVs will be built with Tesla's North American Charging Standard ports, removing the need for an adapter. Ford expects internal combustion engine volume, profits to grow through 2025 Although electric vehicles are expected to eat into combustion vehicle sales eventually, a top Ford executive projected strong ICE and hybrid sales "well into the next decade." Ford swings to $1.8 billion in Q1 net income as sales, pricing rise Ford's adjusted earnings before interest and taxes rose 45 percent to $3.4 billion. A majority of that — $2.6 billion — came from Ford Blue, the company's gasoline-powered business. Ford expects to lose $3B on EVs this year The EV losses will mount as the company expects increased profits for its internal combustion and commercial vehicle businesses. Ford to sell EVs with 2 types of batteries, depending on customer needs Ford will offer the less-expensive lithium iron phosphate chemistry on its Mustang Mach-E this spring and on the F-150 Lightning next year. Farley: Ford's dysfunction has returned Third-year CEO Jim Farley is pleased by the reception to Ford’s EVs and connected vehicle software but frustrated by long-standing cost and quality issues weighing down the company. Ford cites new tax credits in picking Michigan for $3.5B battery plant The plant is slated to open in 2026 as a wholly owned Ford subsidiary using technology from partner CATL, based in China. The UAW is expected to organize the plant's 2,500 workers through a card check process. Ford reduces top execs' bonuses after 'frustrating' earnings CEO Jim Farley and CFO John Lawler are among those receiving 90 percent of their bonus target, while other salaried employees will get 148 percent. Ford loses $2B in 2022; will decide on Europe cuts soon Ford must decide how many employees it needs in Europe and the company will decide soon on how to restructure its European business, CEO Jim Farley said. Ford follows Tesla price cuts by taking up to $5,900 off Mustang Mach-E The automaker plans to increase production of the electric crossover this year by 67 percent to cement its position as the No. 2 EV maker in the U.S. Ford of Europe boss, Lincoln chief to retire Current and former Europe presidents Stuart Rowley and Steve Armstrong and the head of the U.S.-focused Lincoln brand, Joy Falotico will leave the company. Ford reorganizes executive ranks with new talent The automaker is giving longtime executives John Lawler, Lisa Drake, Jim Baumbick expanded roles as it adds talent with "Silicon Valley credentials." Ford expects higher Q3 costs, lower earnings Ford reaffirmed full-year 2022 guidance of $11.5 billion to $12.5 billion in adjusted EBIT, which would be 15 to 25 percent more than it earned in 2021. Ford Mustang looks to broaden ICE appeal as rivals bow out The seventh-generation pony car, available next summer, features a redesigned interior aimed at attracting younger buyers. Ford Bronco customers spend big on accessories Ford says its retailers have sold more than 1 million factory-backed accessories for the Bronco and Bronco Sport utilities, with customers spending an average of $1,700 to accessorize their Bronco. Load More
Michael Martinez Ford reporter Martinez-Michael is Ford reporter for Automotive News. [email protected] 313-446-1644 Mobile Number: 734-652-0718 See All Staff Page