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Ev Investment

All articles tagged with #ev investment

transportation1 month ago•64 min saved

Stellantis’s EV gamble exposes a carmaker bogged down by debt and missteps

Stellantis, the parent of Jeep and Dodge, booked a $26.5 billion hit on its EV bets and a $16.7 billion charge for warranties and recalls, highlighting deeper issues beyond a single misstep. The company remains heavily reliant on trucks and SUVs, suffers from a bloated brand lineup and leadership turnover, and faces regulatory and market headwinds as EV demand cools. Europe’s diesel revival and uneven EV execution complicate a turnaround, even as Stellantis pursues new EVs and battery tech to regain momentum amid stiff competition.

via The Verge|

#automotive-industry #brand-consolidation #electric-vehicles

business8 months ago•3 min saved

Ford doubles down on affordable EVs amid strategic shifts and investments

Ford is investing $5 billion in a new family of electric vehicles, including a versatile medium-sized pickup truck, to stay competitive amid rising global EV competition, Chinese imports, and industry affordability challenges. The company is also redesigning its manufacturing process to improve efficiency and reduce costs, though this involves job reductions. Ford's strategic shift aims to ensure profitability and sustainability in the evolving automotive landscape.

via Axios|

#automotive-industry #business #electric-vehicles

business8 months ago•2 min saved

Ford announces $30K electric pickup truck to compete with Tesla and BYD

Ford's CEO Jim Farley announced a $2 billion investment to overhaul its Louisville assembly line, aiming to produce a $30,000 midsize EV truck by 2027, as part of a broader strategy to compete with Chinese EV maker BYD and Big Tech companies, emphasizing cost reduction and innovative manufacturing to regain market competitiveness.

via Business Insider|

#assembly-line #business #byd

business2 years ago•1 min saved

Ford's EV Investment Delayed as Buyers Grow Cautious

Ford is postponing approximately $12 billion in planned spending on new electric vehicle (EV) manufacturing capacity due to customers' reluctance to pay a premium for EVs over internal-combustion or hybrid alternatives. While Ford's EV sales are growing, they are not meeting the company's expectations. Ford executives clarified that they are not cutting back on spending for future EV models but will gradually ramp up EV manufacturing capacity. The construction of Ford's new EV manufacturing campus in Tennessee will continue as planned, but the second battery plant in Kentucky will be postponed. Ford's electric-vehicle business unit, Ford Model e, reported a $1.3 billion operating loss in the third quarter of 2023, double the previous year's loss, despite a revenue increase.

via CNBC|

#business #customer-demand #electric-vehicles