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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General Motors Ditches Steering Wheel on New Car

Just as 1908 marked the end of the horse and buggy era with the introduction of the Ford Model T, 2018 may well be remembered as the end of the automotive era, as General Motors begins mass-production of a driverless car without steering wheels or pedals. General Motors announced its self-driving Cruise AV—a modified electric Chevrolet… 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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AT&T, Time Warner merger brings unique anti-trust concerns

WASHINGTON, November 21, 2017 – Giant telecommunication company AT&T (more than $160 billion in annual sales) still hopes to purchase the Time Warner Company for $85 billion. Most view this merger as primarily a vertical merger, a transaction that typically gets routinely easy approval from the U.S. Department of Justice (DOJ). But, although a similar Comcast-NBC/Universal… Please follow and like us:

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China-US companies’ deals signed during Trump’s visit to China

Business leaders shake hands during a meeting with US President Donald Trump and Chinese President Xi Jinping at the Great Hall of the People in Beijing, Nov 9, 2017. [Photo/VCG] Chinese and US companies signed 34 deals worth $253.5 billion during US President Donald Trump’s state visit to China. These deals involved energy, the chemical industry,… Please follow and like us:

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FBI plants bull’s-eye on GM, Ford as UAW scandal widens

DETROIT — The FBI’s probe into financial shenanigans by UAW and auto executives has extended to General Motors and Ford, which join FCA in a growing scandal that focuses on stolen training funds, according to a source familiar with the investigation. At the heart of the probe is whether funds that were meant to train autoworkers… 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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Consumer Reports: Buick top 10 most reliable; Ford and Fiat Chrysler improve

DETROIT — When it comes to reliability, Ford and Fiat Chrysler have improved their performance ratings among drivers while General Motors has slipped. Still, GM’s Buick is the only U.S. brand to make Consumer Reports’ latest top 10 list of most reliable brands. The new Chevrolet Bolt electric car was GM’s most reliable model, scoring “above… Please follow and like us:

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Ford, Lyft team up to put driverless cars on the road

SAN FRANCISCO — Ford will begin testing self-driving cars on ride-hailing company Lyft’s network with human drivers at the wheel for backup, the companies said late Tuesday. Ford also plans to test self-driving cars on the Lyft network with no human in the driver’s seat. It said that part will be just a research project for… Please follow and like us:

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Domino’s, Ford to test driverless pizza delivery

ANN ARBOR, Mich. — Soon, the pizza you order from Domino’s might show up in a Ford Fusion hybrid without a driver. Domino’s and Ford will begin testing the concept Wednesday in Ann Arbor, where Domino’s is based, to see whether customers like the idea of driverless-car delivery or stumble over what amounts to a self-serve… Please follow and like us:

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Tesla’s Model 3 rolls down the red carpet as new details revealed

FREMONT, Calif. — The Tesla Model 3 — fast, electric and available in the dreams and budgets of more common car owners — left the Fremont factory lot for the California streets Friday evening. CEO Elon Musk drove on stage in a red Model 3 and handed over 30 new electric vehicles to employees at a… Please follow and like us:

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Ford profits increase 4 percent to $2 billion for second quarter

DETROIT — Ford said Wednesday it earned a profit of $2 billion during the second quarter, a 4 percent increase from the same period a year ago as profits from the company’s North American region helped it record better-than-expected results. In North America, the Dearborn, Mich., automaker is still churning out profits thanks in part to… Please follow and like us:

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Tesla Model 3 To Roll Off Production Line 2 Weeks Early: Elon Musk

The first Tesla Model 3 car will roll off the production line this week, Tesla CEO Elon Musk announced on Twitter. Elon also announced that the first 30 customers of Model 3 will receive their new cars on July 28 at a handover party. While the company is scaling up its Model 3 production, according to… Please follow and like us:

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Ford to cut 1,400 salaried jobs in North America, Asia

DETROIT — Ford told its employees Wednesday morning that it plans to cut 10 percent of its salaried workforce worldwide, or about 1,400 employees as the automaker wrangles with falling profits and pressure to boost its stock price amid slowing U.S. industry sales. Most of the job cuts will occur in North America and Asia with… Please follow and like us:

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Apple May Spend Cash Pile On Buying Tesla: Report

In its recently released financial results, iPhone maker Apple revealed it is sitting on a massive $250 billion of cash reserves. And while social media was abuzz with what all that amount of money could hypothetically buy or finance, some analysts took a more realistic approach. According to Citibank analyst Jim Suva, the company will likely… Please follow and like us:

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