Ford promises to ‘change the way America works’ with electric F-150 pickup
Ford’s F-Series pickup has been America’s best-selling vehicle for a 40 straight years. Production of the F-150 Lightning pickup was celebrated on Tuesday by Ford and UAW employees and customers at the Rouge Electric Vehicle Center in Dearborn. Now we’re the first company to build electric trucks for everybody.”Nearly a year after the electric pickup was unveiled, production has officially started. Related: Ford ramps up production of electric F-150 due to ‘unprecedented customer interest’Considering how popular the F-Series is among drivers the buzz around electric makes sense. “If you’ve been an F-150 owner for years, you’ve never experienced anything like lightning,” Ford said.mlive.com
Ford raises some white-collar bonuses after objections to initial plan
Ford Motor Company spent the weekend dealing with an internal crisis over white-collar compensation. After posting a near $18 billion profit for 2021, it turns out the bonus calculations didn’t go over well with many because benefitted senior managers.
Google teams up with Ford on revitalizing long-vacant Detroit train station
DETROIT - Google is joining Ford Motor Company to transform a rundown Detroit train depot into campus for technology and innovation. The tech giant will be a “founding member” of the Michigan Central Innovation District, a 30-acre campus being developed by Ford at the former Michigan Central Train Station. Related: How Ford plans to transform iconic Detroit train station into innovative 30-acre campusOver the last four years, Ford has invested $740 million into restoring the train station that sat vacant since 1988. Related: Detroit’s iconic train station in 8 interesting facts“Ford and the now Michigan Central are growing their commitment right here in the great city of Detroit,” said Gov. Michigan Central site plans also include public amenities, green spaces, walking and biking trails, public art and community gathering areas.mlive.com
Ford unveils its ‘truck of the future,’ the all-electric F-150 Lightning
Ford’s first electric truck will roll off the line in spring 2022, the company announced in its Wednesday, May 19 unveiling. “The F-150 Lightning is the smartest, most innovative truck Ford has ever built.”The basic model starts at $39,974, about $11,000 more than the cheapest model for this year’s F-150. With the standard-range battery, the F-150 Lightning can go about 230 miles, while the extended-range battery can go roughly 300 miles. While it may have more power than current F-150 trucks, its maximum payload and towing are lower than gasoline-powered trucks. The F-150 Lightning’s maximum payload is 1,800 to 2,000 pounds – the current F-150 can handle 6,000 to 7,850 extra pounds.mlive.com
‘China is leading’ electric vehicle race, but America will win, Biden says in Michigan
After touring Ford’s Rouge Electric Vehicle Center in Dearborn, President Joe Biden jumped on stage with a message for the audience. “My name’s Joe Biden and I’m a car guy!” Biden said, amid applause. “There’s no turning back.”His plan would pay incentives to customers buying an electric vehicle, give tax credits for zero-emission heavy-duty vehicles, give money for electric transit and school buses, offer tax credits for electric vehicle manufacturing and spend $15 billion to boost the United States to 500,000 public electric vehicle charging stations. About 90% of the jobs created in his American Jobs Plan wouldn’t require a bachelor’s degree, he said. “The bottom line: The American Jobs Plan is a blue-collar blueprint to rebuild America,” Biden said.mlive.com
Ford announces board nominees
Ford Motor Co. announced two board nominees in a March 12 press release. The nominees are Ford family members Alexandra Ford English and Henry Ford III. Ford English is the director of Corporate Strategy at Ford and Ford III is a director in Ford Investor Relations. “Henry and Alexandra are both passionate and capable young business leaders who care deeply about Ford Motor Company and the welfare of our customers, employees, dealers and shareholders,” Bill Ford said in the press release. A Ford spokesperson told Grosse Pointe News neither Ford English nor Ford III are available for comment concerning their nominations.grossepointenews.com
Employees pressure Ford to stop producing police vehicles
Some employees are asking the automaker to stop building and selling police vehicles. First reported Wednesday by automotive website Jalopnik, as many as 100 Ford employees called for the automaker to stop making vehicles for police departments. In the letter, employees cite images of officers in Ford police vehicles driving through crowds of protestors and deploying chemical agents. Employees told Ford executives, We are long overdue to think and act differently on our role in racism.The auto giant has produced vehicles used by law enforcement since the 1950s. In response, Ford CEO Jim Hackett and President Bill Ford said Black Lives Matter and they are reviewing the companys diversity, but sales of police vehicles will continue.
Detroit CEOs speak out against racisim, vow to make changes, right social wrongs
DETROIT Business leaders from some of the nations largest companies gathered Wednesday morning at Detroit City Hall. ORIGINAL STORY: Detroit business leaders speak out against racism, institute plans to combat systemic problemsThe event was coordinated by Detroit Mayor Mike Duggan to speak out against racism and injustice. Dr. Wendell Anthony, President of Detroit Chapter of the NAACPMike Duggan, Mayor of DetroitDetroits NAACP leader Rev. Every one of us has a stake in the harsh reality that is life for minorities in America," Torgow said. Henry Ford Health System CEO Wright Lassiter grew up with civil rights leaders in his home -- his parents marched in Selma in 1965.
LIVE STREAM: 9 Detroit CEOs, including Mary Barra, Bill Ford, Chris Ilitch, speak on racism, injustice
DETROIT Nine CEOs from Detroits biggest companies are coming together to speak out against racism and injustice during a press event on Wednesday morning. The event is planned for 9:30 a.m. -- you can watch it live in the video player above. Who is participating:
Detroit business leaders speak out against racism, institute plans to combat systemic problems
DETROIT The CEOs of nine Detroit businesses were joined with Mayor Mike Duggan and Rev. Wendell Anthony to speak out against racism Wednesday morning. Dr. Wendell Anthony, President of Detroit Chapter of the NAACPMike Duggan, Mayor of DetroitThe group said they believe it is the responsibility of every American to speak out against the racism," and that they stand with the black community in calling for change across the nation.The business leaders said they are committing themselves and their companies to reject and eliminate all forms of bias, racism, sexism and violence. To back up their words, the group said their companies will be investing in programs and policies to help transform disparities that exist, locally and nationally. The group urged government officials to hold accountable all individuals involved with the deaths that have occurred.
Coronavirus in Michigan: Heres where we stand as of Friday morning
Gretchen Whitmer has been loosening restrictions put in place during the coronavirus (COVID-19) pandemic. Gretchen Whitmer announced Thursday that she is partially reopening businesses and lifting medical restrictions across the entire state. Gretchen Whitmer announced Thursday residents are allowed to gather in groups of as many as 10 people. The order is effective immediatelyThe number of confirmed cases of the coronavirus (COVID-19) in Michigan has risen to 53,510 as of Thursday, including 5,129 deaths, state officials report. Some viruses are highly contagious (spread easily), like measles, while other viruses do not spread as easily.
Trump briefly wears a face mask but not in public
AdvertisementFord confirmed that its chairman had asked the president to put on a mask when he arrived, in keeping with company policy, and that Trump had complied. The will-he-or-wont-he mask question was one of several distractions from the stated purpose of Trumps visit, which was to honor the workers producing critical supplies for treating COVID-19 patients. Her office said this week that she was not invited to join Trumps visit to the Ford factory. Trump won Michigan by fewer than 11,000 votes in 2016, and polls show him trailing Biden this year. AdvertisementState officials had urged Trump to wear a face mask at the site, citing Whitmers executive order and Fords workplace protocols.latimes.com
Ford says President Trump wore mask for part of Michigan visit, then took it off
YPSILANTI, Mich. Would President Donald Trump wear a mask during his visit to a Ford plant in Metro Detroit? Many were asking the question, and Ford says the president did so for part of the visit before removing it. Bill Ford encouraged President Trump to wear a mask when he arrived," Ford said in a statement. Earlier this week, Local 4 asked Ford if Trump will be required to wear a mask inside the plant. "The White House has its own safety and testing policies in place and will make its own determinationMichigan Gov.
From vehicles to ventilators, Ford and GM take on coronavirus
This week on 60 Minutes, correspondent Norah O'Donnell interviewed Ford executive chairman Bill Ford and GM CEO and chairman Mary Barra about the adjustments their companies have made during the pandemic. Detroit-based GM told 60 Minutes it began the ventilator production process on March 17. "We knew we were working as fast as we can," Barra told 60 Minutes in responding to messages posted on President Trump's Twitter account. Adam VerdugoBarra told 60 Minutes GM is making the ventilators at cost. "It's terrible that a crisis like this has to remind people how important a manufacturing base is," Ford told O'Donnell.cbsnews.com
How Ford and GM joined the fight against the coronavirus
Mary Barra, CEO of GMIn the "new abnormal," GM and Ford have each tapped into about $15 billion in private lines of credit to pay their bills. Part of the financial pressure is that under their contracts with the United Auto Workers union, Ford and GM continue to pay millions of dollars to their idled workers. Bill FordAs Ford and GM shut down auto production in March, Michigan emerged as a major COVID-19 hot spot. Ford workers manufacturing medical suppliesIn mid-March, it looked as if American hospitals would quickly need thousands of ventilators that didn't exist. I'm-- I'm waiting to make sure that you come home at night (CRYING) 'cause I don't know if you're gonna come home."cbsnews.com
Morgan Stanley: Ford will survive coronavirus halt, but stock may not have bottomed yet
Adam Jonas, Morgan Stanley's head of global autos and shared mobility research, told CNBC on Tuesday that though Ford will survive the financial uncertainty caused by the coronavirus, its stock may not have bottomed just yet. "That doesn't mean Ford can't go from $4 to $2 along the way this is fluid," Jonas said on "Squawk on the Street." He said the board's decision to suspend its dividend because of the coronavirus also indicated the company's commitment to staying afloat. He added that Ford Executive Chairman Bill Ford "will do whatever it takes for Ford to survive" and preserve the company's legacy. Jonas also described the country's current "war-like environment" that has prompted automakers like Tesla, Ford and GM to begin working with medical partners to manufacture equipment such as respirators.cnbc.com
Ford partners with GE, 3M to begin manufacturing protective equipment, ventilators
Ford announced Tuesday it will partner with 3M and GE Healthcare to begin producing face masks and ventilators to help fill potential shortages caused by the coronavirus. Ford and GE Healthcare will begin manufacturing a "simplified version of GE Healthcare's existing ventilator design" to aid patients who may experience trouble breathing caused by COVID-19. The company said its U.S. design team is also creating and starting to test transparent full-face shields for medical workers and first responders to pair with N95 masks. The first 1,000 face shields will be tested this week at Detroit Mercy, Henry Ford Health Systems and Detroit Medical Center Sinai-Grace Hospitals. The company said it will employ UAW workers to assemble more than 100,000 of the plastic face shields per week at a Ford manufacturing site to help medical professionals, factory workers and store clerks.cnbc.com
Ford partners with 3M, GE to make respirators, ventilators and face shields
Ford Motor Co. is teaming with major medical equipment manufacturers, including the 3M Co. and GE Healthcare, to boost their production and to make face shields and 3-D print respirators. This is such a critical time for America and the world," Bill Ford, Ford's executive chairman, said in a statement. Meanwhile, Ford is testing 1,000 face shields at Detroit Mercy, Henry Ford Health Systems and Detroit medical Center Sinai-Grace Hospitals. Once approved by federal regulators, Ford intends to produce 1,000 respirators per month and grow that production as fast as possible. Ford also is evaluating a separate effort not involving GE Healthcare with the U.K. government to produce additional ventilators.monroenews.com
Here's how the Ford Mustang Mach-E earned the iconic pony badge, after the company scrapped years of work on other designs
"We gave them a mission: not just to make an electric car but to make a great electric car," said Ford Executive Chairman Bill Ford during the Mach-E's unveiling Sunday. "But I got to admit, when they came to me and said they can make an electric Mustang, I was pretty skeptical You don't mess with an icon." Before the decision to make it a Mustang, Ford was benchmarking the vehicle as a "compliance" EV, according to company officials. We said, 'Let's try to create an electric Mustang,' " Farley said during the vehicle's unveiling Sunday outside of Los Angeles. "When I drove it, I knew it had to be a Mustang," Ford told reporters after the unveiling.cnbc.com
Mustang Mach-E: Five things to know about Ford's first all-electric SUV
Ford Motor Executive Chairman Bill Ford, left, and actor Idris Elba next to Ford's all-electric Mustang Mach-E GT SUV at Jet Center Los Angeles in Hawthorne, California on Sunday, Nov. 17, 2019. FordLOS ANGELES Ford Motor on Sunday unveiled the 2021 Mustang Mach E, the automaker's first all-electric performance SUV and the beginning of a new EV strategy for the company. Ford,PerformanceTop performance models of the Mustang Mach-E will achieve 0 to 60 mph in the mid-3-second range with an estimated 459 horsepower and 612 lb.-ft. of torque. The range of the all-electric vehicle, depending on the model, is expected to achieve between roughly 210 miles and more than 300 miles on a full charge. Aside from its badging and performance, the Mach-E includes Mustang design aspects such as a long hood, rear haunch, aggressive headlights, and trademark tri-bar taillamps.cnbc.com
Ford unveils new electric SUV: The Mustang Mach-E
DETROIT For put on an hour-long show over the weekend to unveil its newest vehicle: an electric SUV called the Mustang Mach-E. The Mustang has to have soul, and this thing has great driving dynamics, and its really fun to drive, Ford said. Autotrader analyst Michelle Krebs said Ford wants to change the way people view electric vehicles. This is sending a very strong signal of where Ford is headed, Ford said. So far, electric vehicles are only a couple of percentage points of all new vehicles, and everybodys coming at the market with them, Krebs said.
New Ford deal with UAW includes $6 billion in investments, thousands of jobs
Gary Jones, president UAW International, (left) and Bill Ford, executive chairman, Ford Motor, shake hands on July 15, 2019 at Ford World Headquarters to begin negotiations for a new contract. DETROIT Ford Motor and the United Auto Workers reached a tentative deal on a new labor contract Wednesday night without a strike. The four-year deal includes $6 billion in new investments from Ford and the creation or retention of 8,500 U.S. jobs, according to the union. Ford confirmed the proposed deal, which must be approved by local union leaders and members, but declined to provide further details. Once a deal is agreed upon and ratified, the union uses the contract as a template for negotiations with the other two automakers.cnbc.com
Ford Fund President Jim Vella to retire after 31 years
DETROIT - Ford Motor Company Fund president Jim Vella will retire at the end of this year after a 31-year career. The Ford Fund is the automaker's philanthropic foundation. RELATED: Ford Fund surprises Detroit Youth Choir with new van, scholarships for each studentVella's work with Ford started in 1988 as a news producer. He has held multiple executive leadership positions, including vice president of corporate public affairs and chief of staff for Executive Chairman Bill Ford. "Whether it was a plant crisis or internal issue, Jim has been a trusted partner and advisor through an extraordinary era at Ford," Bill Ford said.
$35 billion private equity firm is bullish on China, despite trade war
That is the strategy adopted by General Atlantic, a $35 billion private equity firm that was a pioneer in globalization. About 55% of General Atlantic's portfolio is invested outside the United States, with about 10% in China. Ford explained why the General Atlantic remains bullish on it and is still bullish on the United States, as well. General Atlantic listed the United States, China, Brazil, India and Indonesia as areas of focus. General Atlantic invested $250 million in London-based Greensill, a finance firm that provides working capital to companies, and an undisclosed amount in Czech travel firm Kiwi.com.cnbc.com
Ford announces $275 million joint venture with Mumbai-based Mahindra
DETROIT Ford Motor has agreed to sell 51% of its business in India to Mahindra & Mahindra, one of the largest auto manufacturers in the country. The Dearborn automaker announced the sale Tuesday as part of a $275 million joint venture with the Mumbai-based company that will develop, market and distribute Ford brand vehicles in India and Ford brand and Mahindra brand vehicles in "high-growth emerging markets around the world," according to Ford. The joint venture with Mahindra, according to Ford, is the next step in the strategic alliance forged between Ford and Mahindra in September 2017. The joint venture will be operationally managed by Mahindra, and its governance will be equally composed of representatives of Mahindra and Ford. "Ford and Mahindra have a long history of working together, and we are proud to partner with them to grow the Ford brand in India," said Bill Ford, executive chairman of Ford, in a release.cnbc.com