Ford Motor has announced that it will incur approximately $19.5 billion in special costs, mostly in the fourth quarter, as a result of restructuring business priorities and reducing investments in fully electric vehicles. The company estimates cash payments of $5.5 billion through 2027, affecting net income but not adjusted earnings. Of the total costs, $8.5 billion are asset write-downs related to electric vehicles, reflecting a shift in strategy towards hybrid vehicles. Ford will transform the electric F-150 Lightning into an extended-range electric vehicle and will develop a new business line in energy storage. Estimates suggest that by 2030, 50% of Ford's global volume will be represented by hybrid and electric vehicles. Ford's shares have recorded a slight decline but are up nearly 40% since the beginning of the year.
Sources
Latest News
17:15
BNR, after the statements of Eugen Rădulescu: "The messages and opinions expressed by BNR employees on their personal accounts on social networks [...] do not constitute official positions of the central bank"
17:14
Ghislaine Maxwell, the accomplice of Jeffrey Epstein, has lost her appeal to overturn her 20-year prison sentence.
16:38
USR has submitted a new Integrity Law that excludes the "anti-Fritz amendment"
16:34
A former ROMATSA employee received 532,000 euros as a retirement bonus.
16:29
China warns the USA that it will respond if Chinese companies are included in the expansion of secondary sanctions related to Iran.
See more news