The Ford news section has all the latest news and information regarding the company’s vehicles. You can read in-depth articles, expert reviews, spy shots, and road tests. Updated daily, the Ford news section also features videos. You can also learn more about the company’s new leadership and how it plans to grow the company.
Ford’s new leadership
With the pending departure of Jim Hackett as CEO of Ford Motor Company, the company is in a period of transition. Its new CEO Jim Farley is expected to lead the company through a period of restructuring and streamlining of the global business. Ford’s new leadership will be focusing on improving quality, reducing costs, and restructuring underperforming businesses.
Farley has made a pledge to allocate capital, resources, and talent smartly. While Ford’s core business remains commercial vehicle sales, the company is looking to expand its product portfolio to appeal to a larger group of consumers. Farley cited electric vehicles as a priority, as well as the Mustang and Lincoln luxury brands.
The new leadership team also includes several executives with Silicon Valley connections. Roz Ho, a veteran of Microsoft and HP, will join Ford next month as chief connected vehicle software officer. Another new executive is Jae Park, who is now a vice president of digital product design at the automaker. Meanwhile, Rob Bedecheck will be the executive director of platform architecture.
Despite his new leadership team, some dealers expressed confidence in the new team. Mulally’s support from the board of directors is encouraging, but many dealers say they do not see any immediate changes in the leadership team. While Ford has made significant decisions regarding the realignment of its business, dealers are happy with the new product lineup and the new leadership team.
Farley has taken a rethink of the organization after becoming CEO. His strategy is to focus on the Americas, Europe, and China, and to invest in vehicle connectivity, technology, software, and new business opportunities. He also wants to increase the diversity of the company’s talent pool. In addition, he is replacing Tim Stone as CFO. Stone will stay with the company until Oct. 15 before moving on to ASAPP.
Ford’s new leadership team reflects the changing role of technology within the company. He put Finance Chief John Lawler in charge of the supply chain. He hopes to make the organization more aligned with the transition to electric vehicles. The company will also name its first chief supply chain officer.
The company’s plans for growth
The new strategy by Ford focuses on three key areas: gas-based vehicles, electric vehicles and the commercial market. For gas-based vehicles, Ford will focus on enthusiast vehicles such as the Mustang, general purpose vehicles such as the Ford Escape and Explorer, and trucks like the F-series and Maverick. In addition, it will launch a compact SUV called the Bronco in 2025.
Ford has also stated its intention to go carbon-neutral globally by 2050, with half of its vehicles sold in the world being electric. It also intends to build a sustainable EV supply chain. By 2023, it aims to reach a global EV run rate of 600,000 vehicles, including 150,000 Transit EVs in North America. Additionally, it plans to create an all-new electric commercial vehicle for the Ford Pro line, which will target the commercial vehicle market.
The automaker began the decade optimistically, investing heavily in the development of new technologies, such as ride sharing and autonomous vehicles. It has also introduced a new electric car called the Mustang Mach-E. The vehicle will make its commercial debut sometime in late 2020, and Ford hopes to be a rival to Tesla’s Model Y. The company’s plan for growth reflects its optimism for the future.
Ford has also announced the creation of two new businesses: the Ford Blue and the Ford Model e. Both of these divisions will be led by Bill Farley, the company’s former president of Ford of Europe. Doug Field, who has previously worked at Tesla and Apple, will oversee the development of the new electric vehicles. Kumar Galhotra, meanwhile, will be the new head of Ford Blue.
The new electric vehicles division is making big plans to scale up production, aiming to reach a 600,000-run-rate by 2023 and 2 million-run-rate globally by 2026. The company has also announced plans to add 40 GWh of lithium-iron-phosphate battery production capacity in North America by 2026. This includes direct partnerships with mining companies in various global locations to source batteries.
The impact of the semiconductor shortage on production
The automotive industry is one of the largest consumers of semiconductors, and the shortage is hampering production. As a result, many assembly plants have been idled and the output of vehicles has declined. One report found that in North America alone, the automotive industry will lose 2.3 million vehicles by 2021 because of plant shutdowns. The shortage has also garnered attention in Congress, with members of Congress considering proposals to boost domestic semiconductor production.
The shortage of semiconductors has affected the production of several major carmakers, including Ford. The company’s CEO Jim Farley recently told investors that the shortage is set to get worse before it gets better. He also said that the second quarter is likely to be the worst part of the year, with a full recovery not happening until 2022. Similar comments have been made by Mercedes-Benz and Volkswagen executives. The shortage is partly due to an ice storm in Texas that limited the output of fabs in the state.
The shortage of semiconductors is affecting automotive production across the world, with a number of automakers suffering from delays. For example, Ford Motor Company, which builds the popular full-size pickup, is suffering due to the shortage. In the first quarter, the company sold 966,000 vehicles, 9% fewer than a year earlier.
The company has halted production at eight of its North American plants as it struggles to procure enough chips. This includes production at its Chicago Assembly plant and the Cuautitlan plant in Mexico, where the Ford Mustang Mach-E is made. In addition to that, Ford has suspended production lines at its Kansas City plant. This will result in fewer model vehicles hitting showroom floors. While this may be a temporary measure, the effect of the chip shortage will likely impact Ford production during the next few months.
The shortage has also affected other sectors. Chips are crucial to consumer electronics, such as power steering and entertainment systems. As a result, the shortage is affecting the entire supply chain. Consequently, car makers are forced to cut production targets in response to the shortage. Furthermore, some of the affected companies have issued profit warnings.
The company’s plans for electric vehicles
Ford’s plans for electric vehicles (EVs) look bold and ambitious. However, they may not provide investors with all the details they’re looking for. As equity analyst Emmanuel Rosner notes, it may be difficult for Ford to raise its margins to offset the costs of developing EVs.
The Dearborn, Michigan-based automaker is ramping up its production of battery-powered electric cars, vans, and SUVs to meet rising global demand. Moreover, it plans to invest $5 billion in electric vehicle production by 2022, with a goal of producing two million electric cars per year. Ford is also planning to double the production capacity of the Mach-E battery-powered sedan to 80,000 units by 2022, and increase the production of the F-150 Lightning to 150,000 vehicles from 80,000 units per year.
Ford’s EV plans are based on data from a study by EY, which shows that 52% of global consumers plan to buy an electric car in the next two years. However, the number of potential buyers drops to 29% in the US. The company is focusing on expanding its EV production and building new manufacturing facilities to meet this demand.
Ford Blue will focus on its traditional gas-powered cars and Ford Model e will focus on battery-powered vehicles. It will also focus on connectivity for the two segments. The new structure is intended to make the 118-year-old automaker more competitive. Its most important competition in the electric vehicle market is Tesla.
Ford plans to hire 1,800 new union workers for the Model e production facility in Ohio. The factory will also build an electric commercial vehicle. It will also add 90 new jobs at its Lima, Ohio and Sharonville, Ohio factories. Moreover, it will add a third shift of 1,100 workers to its big Transit van production facility in Missouri. Moreover, the company plans to invest a total of $3.7 billion in new jobs in the three states by 2026.
Ford plans to add lithium iron phosphate battery cell chemistry to its product line by 2024. This new chemistry is much easier to source and cheaper per kilowatt-hour.