Ford's tie-up with Renault aims to revive its Europe EV push with affordable models built on Ampere tech and produced in France.
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Ford Motor Company (F) reached $13.63 at the closing of the latest trading day, reflecting a +1.64% change compared to its last close.
Four years ago, Ford and South Korean battery maker SK On struck a deal to form a joint venture and spend $11.4 billion to build factories in Tennessee and Kentucky that would produce batteries for the next generation of electric F-Series trucks.
South Korean battery maker SK On said on Thursday that it has decided to end its joint venture with Ford Motor for their two joint battery factories in the United States.
Chinese rare-earth magnet suppliers to U.S. automaker Ford Motor were included in the first batch of new export licences issued by Beijing to boost shipments and reduce shortages of the vital components, the carmaker said on Wednesday.
Ford CEO Jim Farley acknowledged the automaker is in “a fight for our lives in our industry” as it seeks to remain competitive in Europe amid pressure from Chinese competitors. One of its weapons to stave off those threats is a partnership with French automaker Renault Group.
Ford Motor Co. (NYSE: F) stock is up 33% this year, and General Motors Co.
Renault will jointly develop small, cheaper electric vehicles for Ford for the European market and will also team up to produce commercial vans to cut costs and fend off rising competition from Chinese rivals, the companies said on Tuesday.
The French carmaker will build two entry-level electric vehicles, part of a relaunch of Ford's embattled European business.
The Trump administration's proposal to roll back Biden-era vehicle fuel efficiency standards may save automakers in the U.S. tens of billions of dollars and potentially lower upfront purchase costs for American car buyers.
F recalls nearly 109K Escape vehicles after issues with liftgate hinge covers resurface, prompting inspections and fixes across multiple model years.