Hints and tips:
Related Special Reports
...Of Ford’s $1.1bn profit in the final quarter of last year, roughly a quarter came from the Ford Credit arm. In 2021, the finance unit generated half of Ford’s entire annual profits....
...The FT visited Detroit this week to take the pulse of the Motor City — stay tuned for our report later this weekend. The history of the Lions overlaps with the history of Detroit itself....
...Ford, General Motors and Tesla have all pumped the brakes on expanding EV production capacity in recent weeks....
...Rivian went public in late 2021 with a market capitalisation of more than $100bn — bigger than Ford and General Motors....
...Ford and General Motors have paused plans to expand their EV manufacturing capacity in recent months, and last week Rivian announced that it would cut 10 per cent of its workforce and keep deliveries flat...
...General Motors and Tesla have paused some of their EV expansion plans....
...Cruise, the self-driving car subsidiary of General Motors, targeted annual revenues of $1bn by 2025. Last year, the business reported sales of just $102mn amid a $3.4bn loss....
...Sales growth of electric cars has slowed in the past year, with carmakers increasingly forced to discount models in order to generate sufficient consumer demand, while companies from General Motors and Ford...
...Unlike some models from Ford, GM, Volkswagen and Nissan, its EVs are not built in the US and so do not qualify for the tax credit under President Joe Biden’s Inflation Reduction Act....
...In 2021, Field was poached by Ford....
...“If the credits are withdrawn or scaled back, for example, by a future Republican administration, or if Ford can’t deliver, then SK will have to revise its ambitions.”...
...The sales are being driven by a combination of price cuts at Tesla and Ford this year, tax credits worth up to $7,500 for consumers and greater manufacturing capacity, experts say....
...[but] it’s going to take more time than we expected 18 months ago,” Ford chief executive Jim Farley told investors this month....
...For example, although MG Motor is headquartered in the UK and owned by China’s SAIC, its MG5 and MG ZS are made in China and exported....
...A number of EV makers have recently scaled back expansion plans, including Ford and General Motors, while rental group Hertz is selling one-third of its electric fleet to buy more petrol vehicles....
...Hyundai and its sister brand Kia have together overtaken Ford and General Motors to claim second place in US electric vehicle sales behind Tesla, with their market share set to grow once a new $7.6bn plant...
..., General Motors and Stellantis....
...LG Energy Solution, one of the world’s top three EV battery producers that has joint ventures with General Motors, Honda and Hyundai in the US, announced this month it was laying off 170 workers at its plant...
...The downbeat outlook comes as automakers including Tesla, General Motors and Ford slow their EV factory expansions in expectation of weaker demand for cars owing to higher rates increasing financing costs...
...Also, it will be a busy week for carmakers — notably Nissan, Toyota and Ford — and (yet more) tech — Alibaba, Arm, Spotify and Uber. More details below....
...Ford owners will receive access next spring via an adapter that converts the electric connectors in Tesla’s Superchargers for use in Ford’s Mustang Mach-E or F-150 Lightning pick-up trucks....
...The United Auto Workers, the influential US union, is targeting Tesla as it aims to widen its base beyond the traditional Detroit carmakers of Ford, General Motors and Chrysler following its historic pay...
..., Ford and Stellantis in a six-week strike....
...US carmakers including Ford, General Motors and Tesla have delayed their factory ambitions due to a slowdown in demand. GM said its EVs were “well positioned” to qualify for the tax credit....
...The Cybertruck is Tesla’s bid to move beyond sedans and SUVs to challenge the likes of Ford, Stellantis and General Motors in the pick-up market, which is rapidly shifting to electric....
International Edition