"We share exciting news today about new jobs, new products and our latest investments in American employees," said CEO Jim Farley.
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| Ford(F) |
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The emergence of a new bull market in the technology sector is a matter of when, not when. The stock market has a difficult year. Rising interest rates and rising global tensions have caused the biggest losses since the sale of COVID-19 in 2020. The S&P 500 broadly followed index has lost 16.8% year-on-year, but the tech-centric Nasdaq-100 is getting worse, down by about 26%. &n...
Ford Motor (F) - Shares of rose on Thursday after a car company published details of its investment increase in the production of electric vehicles that will create nearly 75,000 jobs over the next four years.
Together, Ford will invest $ 3.7 billion in new facilities in Michigan, Ohio and Missouri, most of which focus on EVs, while creating an estimated 74,000 new direct and indirect jobs. Spending is part of the $ 50 billion previously announced in the new EV, which has been rolled out over the next five years, launched in March.
A Ford official told a meeting of the Michigan Strategic Fund on Thursday that the automaker would invest $ 2 billion, and create 3,200 new jobs, as it upgrades production of the F-150 Lightning, as well as new Mustang and Ranger models.
"Ford is America's number one hour-long employer, and this investment deepens our commitment to building bigger cars - from new Mustangs to new EVs - right here in the U.S. in partnership with UAW," said the chairman. Bill. Ford. "I am proud to be investing in the Midwest and taking real action to provide better benefits and working conditions for our industrial workers."
Ford shares marked 0.3% higher in pre-market trading to show the $ 13.60 per share opening price, a move that would leave the stock with a year-on-year decline of about 35%.
Ford chief executive Jim Farley, who elaborated on the automotive plans of car manufacturers to boost sales of electric vehicles and accelerated their challenge to Tesla's TSLA market dominance, said the announcement would focus on "new jobs, new products and our recent American investment.
Farley told a Bernstein Strategic decision conference in New York yesterday that Ford could emulate Tesla's strategy to sell to customers directly, through a broken retailer network, to meet their high EV demands.
"We have to go to a non-negotiable price. We have to go 100% online. No goods (in retail companies), go straight to the customer," Farley said. "And 100% download and delivery."
"The (seller's) standards will be harsh," he added. "They will be much different than they are today."
Ford said by the end of April that inflation and tight demand, especially the recently launched F-150 Lightning, would eliminate supply barriers and the impact of the Russian war in Ukraine as it adheres to its annual performance forecast of $ 11.5 billion. and $ 12.5 billion.
Farley said at the time "the major focus of the automotive industry now accelerates the most important change in our supply chain management", adding that it is fully committed to "opening up value by improving our growth profile, profitability and ability to generate sustainable cash flow for our automotive related businesses."
The team is also divided into three different categories - the Ford Model E, which focuses on the development of the EV, Ford Pro, its commercial component, and Ford Blue with its ICE-based trucks and SUVs.
It also signed an agreement with SK On of South Korea and Koc Holding of Turkey to develop the electric car industry in southeastern Europe, with plans to double the number of vehicles made on the German modular electric-drive platform (MEB) to almost 1.2 million units over the next six years.
Nickel prices, however, an important part of battery production, have risen by 33.8% so far this year to about $ 27,700 per ton on the London Metals Exchange, while lithium carbonate prices in the battery range have risen by about 60% from levels the first of 2021.
