Michael Martinez Ford reporter Martinez-Michael is Ford reporter for Automotive News. [email protected] 313-446-1644 Mobile Number: 734-652-0718 See All Staff Page Recent Stories Ford promotes Kumar Galhotra to COO; Andrew Frick to lead Ford Blue The move is part of Ford's push to simplify its business to deliver on the growth plan it laid out in 2021. UAW begins historic strike against all 3 Detroit automakers Talks stalled in the final hours of negotiations, even as the automakers offered record raises as high as 20 percent. Ford Mustang Mach-E Rally to get at least 480 hp The crossover is Ford's first electric offering in the popular off-road segment, which it has focused on in recent years with subbrands such as Bronco. Ford confident in EV plans despite challenges The automaker says a second-generation platform will be key to making its EV business profitable. Ford aims Mustang GTD at Porsche, Aston Martin, Mercedes sports cars Ford is aiming the Mustang GTD at high-priced, high-performance European sports cars from Porsche, Aston Martin and Mercedes. Ford hires former Apple exec Peter Stern to lead new software services group Peter Stern was named president of Ford Integrated Services, effective Monday, and will report to CEO Jim Farley. Ford posts $1.9B Q2 net income, raises guidance but forecasts larger EV losses Ford made $2.3 billion from gasoline-powered vehicles and $2.4 billion from a commercial unit but lost $1.1 billion on EVs during the latest period. GM reports 52% surge in Q2 net income, raises 2023 guidance a second time The automaker raised its guidance for the second consecutive quarter and said it would cut an additional $1 billion in costs over the next two years. Ford hires Whirlpool executive Liz Door as chief supply chain officer The automaker, which saw its suppler relations score plummet in a recent study, said it has hired Liz Door, a sourcing executive at Whirlpool. Ford EVs will connect to 12,000 Tesla superchargers Starting in 2025, Ford EVs will be built with Tesla's North American Charging Standard ports, removing the need for an adapter. Ford expects internal combustion engine volume, profits to grow through 2025 Although electric vehicles are expected to eat into combustion vehicle sales eventually, a top Ford executive projected strong ICE and hybrid sales "well into the next decade." Ford swings to $1.8 billion in Q1 net income as sales, pricing rise Ford's adjusted earnings before interest and taxes rose 45 percent to $3.4 billion. A majority of that — $2.6 billion — came from Ford Blue, the company's gasoline-powered business. Ford expects to lose $3B on EVs this year The EV losses will mount as the company expects increased profits for its internal combustion and commercial vehicle businesses. Ford to sell EVs with 2 types of batteries, depending on customer needs Ford will offer the less-expensive lithium iron phosphate chemistry on its Mustang Mach-E this spring and on the F-150 Lightning next year. Farley: Ford's dysfunction has returned Third-year CEO Jim Farley is pleased by the reception to Ford’s EVs and connected vehicle software but frustrated by long-standing cost and quality issues weighing down the company. Load More
Michael Martinez Ford reporter Martinez-Michael is Ford reporter for Automotive News. [email protected] 313-446-1644 Mobile Number: 734-652-0718 See All Staff Page