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...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....
...[but] it’s going to take more time than we expected 18 months ago,” Ford chief executive Jim Farley told investors this month....
...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....
...briefly eclipsed those of Ford and General Motors....
...Despite selling just 24,000 cars last year, Vietnam’s VinFast this month soared into the ranks of the world’s most valuable automakers — far surpassing rivals such as Volkswagen, Ford and General Motors,...
...Ford’s vehicles that contain CATL’s lithium iron phosphate, or LFP, batteries would still qualify for incentive credits under the US Inflation Reduction Act, he added....
...The maximum credit is valued at $7,500....
...To Iger’s credit, the cost-cutting plan was quite a downer for a company hawking tickets to the happiest place on earth....
...Ford and General Motors have vowed separately to spend between $30bn and $35bn to develop new EVs. Each has unveiled a suite of new models....
...I kicked the tyres on all this with Peter Campbell, the FT’s global motor industry correspondent....
...He also extended a $30mn loan to a company registered in the name of Epstein’s private pilot. The company, Plan D LLC, owned a Gulfstream jet....
...General Motors, Ford, Volvo and Mercedes were among the carmakers that backed the deal, but some of the largest brands, including Toyota and Volkswagen, did not....
...This is a similar amount to that held by BMW, Ford and General Motors. Lucid, which listed through a Spac rather than an IPO, has $6.2bn of cash available....
...Stripe has poached General Motors’ chief financial officer Dhivya Suryadevara, bolstering its executive team as the San Francisco-based online payments company rides a wave of ecommerce growth....
...Ford Credit, which provides financing for the American company’s customers and dealers, posted $3.7bn in earnings before taxes in the same period, which included a record-breaking second quarter....
...General Motors and Ford have both drawn $16bn and $15.4bn from their credit lines, while Germany’s Daimler on Thursday opened a fresh €12bn credit line on top of its existing €11bn facility....
...This year has brought a measure of vindication, as companies ranging from Ford to Volkswagen to Mercedes-Benz have unequivocally committed their futures to electric vehicles....
...companies....
...The Detroit-based company said that it plans to buy carbon credits from rivals that have sold more electric or hybrid cars....
...at Luckin Coffee and Wirecard, having worked with Credit Suisse on deals for both....
...Now in his late 70s and in the twilight of his career, Perella is leaving the group’s day to day management to co-founder Peter Weinberg, Wall Street royalty in his own right....
...Ford and General Motors were cut to junk....
...Ford and General Motors began allowing office-based employees to work from home this week....
...Not all companies have been able to access funding programmes....
...At the end of 2019 it had $17.3bn in available credit lines, according to the company’s annual report....
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