Ford says it will spend $11 billion in electrification investment

DETROIT — Ford plans to increase its investment in electrification to $11 billion by 2022, Executive Chairman Bill Ford Jr. said Sunday at the Detroit auto show. The company previously announced it would spend $4.5 billion by 2020. “We’re going to electrify even our most iconic vehicles,” he said at Cobo Center. “The only question is,… Please follow and like us:

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Ford sued in federal court over claims of diesel emissions cheating

DETROIT — Another lawsuit over diesel emissions was filed Wednesday in federal court in Detroit. This case, filed by a group of Ford F-250 and F-350 Super Duty owners, alleges Ford cheated on emission tests of the diesel engines because they pollute much more than the tests certify. The suit, which seeks class-action status, adds Ford… Please follow and like us:

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Chinese Leaders Proclaim End To Government Bond Risk Backstop, Look To Detroit For Guidence

Xu Zhong, head of the People’s Bank of China’s research bureau, is in an unusual position. In a nation known for government intervention in free market forces, he recognizes the slippery slope of the moral hazard of the government bailing out risky lending practices. Looking at how local Chinese governments have become over-leveraged, he says the… Please follow and like us:

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F-150 pickups drive 3rd quarter earnings: Ford beats expectations

DETROIT — Ford announced Thursday a third-quarter profit of $1.6 billion, a 63 percent increase from one year ago. On a per share basis, the Detroit-area automaker earned 39 cents per share, beating the 33 cents per share average, based on a FactSet survey of Wall Street analysts. That’s up from 26 cents per share a… Please follow and like us:

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Fiat Chrysler earns $1.07B in record 3rd quarter

DETROIT — Fiat Chrysler Automobiles reported earnings of $1.07 billion (910 million euro) in the third quarter, an increase of 50 percent over the same period a year ago. The automaker, which has its U.S. headquarters in suburban Detroit, touted a record third-quarter, citing a drop in expenses related to debt reduction, strong performance in North… Please follow and like us:

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Why Jack Ma’s Second Act Will Be Tougher Than His First

Close In the aftermath of the recent U.S. election, as notables from near and far (and really far) made their pilgrimages to Trump Tower hoping to figure out what this most unexpected presidency might look like, these two made the oddest of couples: the tall, elaborately coiffed president-elect and the elfin CEO of the most famous… Please follow and like us:

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