Ford's profit rises on strong truck demand but EV outlook weighs
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UAW holds off on endorsing Biden for 2nd term citing EV policies
May 3, 2023 3:22 PM EDTUnited Auto Workers (UAW) President Shawn Fain said in a letter to members seen by Reuters Wednesday that the Detroit-based union has yet to endorse President Joe Biden for a second term, citing concerns about electric vehicle policies.
"The federal government is pouring billions into the electric vehicle transition, with no strings attached and no commitment to workers. The EV transition is at serious risk of becoming a race to the bottom. We want to see national leadership have our back on this before we make any commitments," Fain... More
Ford (F) CEO says EV price cuts are 'a worrying trend'
May 3, 2023 3:07 PM EDTFord (NYSE: F) CEO, Jim Farley told a Wall Street Journal forum on Wednesday that price cuts in the electric vehicle market "is a worrying trend".
Rival EV automaker Tesla (NASDAQ: TSLA) incited what others are... More
Marco Rubio seeks investigation into Ford’s (F) Chinese partnerships
May 3, 2023 11:58 AM EDTRepublican U.S. Senator Marco Rubio on Wednesday asked President Joe Bidens administration to investigate Fords (NYSE: F) plan to partner with PT Vale Indonesia and China's Zhejiang Huayou Cobalt in a $4.5 billion nickel processing plant in Indonesia.
Rubio is the top Republican on the Senate Intelligence Committee and... More
Ford (F) expects $1.5B to $2B in restructuring charges in 2023
May 3, 2023 8:12 AM EDTFord (F) said in a regulatory filing on Wednesday that the company expects to take up restructuring charges between $1.5 billion and $2 billion in 2023. The charges come as part of the U.S. automaker's move to exit unprofitable locations and cut headcount.
The charges will be primarily attributed towards "employee... More
