Ford (6do encyclopedia)



Ford Motor Company is an American multinational automaker that has made a significant impact on the automotive industry for over a century. Founded by Henry Ford in 1903, the company has been a pioneer in mass production of automobiles and has been one of the world’s largest and most successful automotive manufacturers since its inception.

History

Henry Ford was a skilled engineer who began his career as a mechanic. He had started experimenting with gasoline engines while still working as an engineer at the Edison Illuminating Company in Detroit. In 1903, he founded his own automotive company, which initially produced only a few cars each day. It wasn’t until 1908 that Ford introduced the Model T, a car that transformed the automotive industry.

The Model T’s success was due to its simplicity, reliability, and affordability. At the time, cars were only affordable to the wealthy, but Ford’s innovation allowed for mass production techniques that made the Model T available to the masses. The assembly line Ford created revolutionized the way products were manufactured, not just for the automotive industry but for all industries. It allowed for the standardization of parts and production, as well as the use of interchangeable parts, which contributed to the success of Ford’s vehicles.

Ford continued to innovate and improve upon his designs, developing new models such as the Model A, the Model B, and the Model K. However, none of these cars achieved the success that the Model T had.

During World War I, Ford produced a large number of vehicles for the Allies, including ambulances, trucks, and military vehicles. After the war, the company returned to producing civilian vehicles and introduced new models such as the Model A.

In the 1920s, Ford focused on the worldwide expansion of the company by establishing factories in other countries such as Canada, the UK, and Australia, all while continuing to produce popular models like the Model A and the Model T. By the late 1920s, however, it was clear that the Model T had reached the end of its production life. Ford introduced the Model A in 1927, which was successful, but soon after, the Great Depression hit, and car sales dropped significantly.

In response, Ford instituted new cost-cutting measures and introduced the Ford V-8 in 1932, which became a popular model. The company also continued to focus on expanding globally, opening factories in Brazil, Germany, and Russia.

During World War II, Ford once again produced vehicles for the Allies, as well as other wartime equipment. After the war, the company was able to convert its factories back to producing civilian vehicles and introduced new models like the Thunderbird and the Mustang.

In the 1960s, Ford continued to innovate, introducing new safety features like seat belts and increasing the performance of its vehicles. The Mustang became one of the company’s most popular models, while other models like the Falcon and the Fairlane also gained popularity.

Ford’s history has been marked by innovation and adaptation to changing market circumstances. Its commitment to mass production and cost-efficient manufacturing allowed the company to become one of the world’s largest automotive manufacturers and continue to thrive in the industry.

Current Development

Today, Ford continues to innovate and adapt to changing market trends. The company has shifted toward producing more fuel-efficient vehicles in response to environmental concerns and government regulations. It has also invested in electric vehicle technology, introducing the Mustang Mach-E in 2020 and announcing plans to invest $29 billion in electric and autonomous vehicles over the next five years.

In addition to its focus on electric vehicles, Ford has also worked on developing new mobility solutions through its Ford Smart Mobility subsidiary. The company has launched initiatives such as Ford GoBike, a bike-sharing program in San Francisco, and FordPass, a platform that allows users to find and pay for parking, as well as remotely start their vehicles.

Ford has also developed partnerships and collaborations to help ensure its continued success in the industry. In 2019, the company announced a partnership with Volkswagen to develop electric and autonomous vehicles, and in 2020, it announced a collaboration with Google to develop new infotainment systems for its vehicles.

Conclusion

Ford Motor Company has made a significant impact on the automotive industry over the past century. Its founder, Henry Ford, was revolutionary in his approach to mass production, and the company’s commitment to innovation and adaptation has allowed it to thrive for more than a century. Today, Ford continues to innovate and adapt to changing market trends and challenges, ensuring that it remains a leader in the industry.


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FirstFT: High Court judges invested in tax avoidance schemes

Financial Times

23-05-16 04:19


Three high court judges in the UK invested in controversial tax avoidance schemes, including one judge who has ruled on tax avoidance cases. The investments date back about a decade, but records show the judges retained their interests in the schemes after taking their positions. The issue has raised questions about the country's lax approach to disclosure of judicial interests. There are no formal rules requiring UK judges to make public disclosures about their finances.

https://www.ft.com/content/ecea0612-e64c-4ca6-93dc-b1af6cc6e231
Stellantis halts construction at Windsor EV battery plant over federal funding

The Globe and Mail

23-05-16 01:43


Carmakers Stellantis and LG have stopped construction on Canada’s first electric vehicle battery plant due to a dispute over government subsidies. The two companies had previously made inquiries about Ottawa’s willingness to increase funding, following the Inflation Reduction Act, which offers billions of dollars to comparable battery facilities in the US. In response, the Canadian government pledged around $1bn to Stellantis and LG last year before offering Volkswagen as much as $13bn in spring 2021. Finance Minister Chrystia Freeland has said that she is “confident” that differences will be resolved, but a rift between the federal and Ontario governments has made negotiations difficult.

https://www.theglobeandmail.com/business/article-stellantis-halts-construction-at-windsor-ev-battery-plant-over-federal/
Businesses are in for a mighty debt hangover

Economist

23-05-16 18:35


The Economist argues that while Western companies’ balance sheets look benign, a corporate-debt-fuelled cataclysm could be around the corner. Hard profits and fixed-rate debts mean it is unlikely that a disaster is imminent; the default rate for non-financial corporate debt in America and Europe remains at 3%; and many have locked in cheap debt. However, GDP growth in America and Europe continues to decline: first quarter GDP contracted 1.3% quarter-on-quarter in America, and analysts suggest that aggregate quarterly earnings for listed non-financial firms in both America and Europe declined in the first quarter of this year. Rising interest rates are also causing the most substantial strain for those at the flakiest end of the debt spectrum. Floating-rate debt predominately affects the most indebted companies, which are also backed by debt-hungry private equity firms. In addition, the economy may suffer most from the effect of higher interest rates on investment-grade debt, which non-financial firms often heavily rely on.

https://www.economist.com/business/2023/05/16/businesses-are-in-for-a-mighty-debt-hangover
Stellantis warns of factory closure if Brexit deal is not renegotiated

Financial Times

23-05-16 23:19


Carmaker Stellantis has warned the UK government that it may have to close its Ellesmere Port factory unless it renegotiates its Brexit deal with the EU to allow for the use of more non-UK parts in its vehicles and battery systems, according to a submission to parliament’s business committee. The company, which owns Vauxhall, faces additional costs as its electric vans will attract 10% tariffs when exported to the EU from next year because they will not contain enough locally sourced components.

https://www.ft.com/content/8c80eee7-74be-460b-b53a-3bd53caaef11
Ottawa at stalemate over Stellantis battery factory, calls on Ontario to pay its ‘fair share’

The Globe and Mail

23-05-16 22:58


Canada's Innovation Minister, François-Philippe Champagne, is urging the Ontario government to help end the subsidy stalemate that has halted construction of Canada's first electric-vehicle battery plant. Automaker Stellantis NV and battery maker LG Energy Solution have threatened to move their joint $5bn project to the US, unless the incentives provided by the Inflation Reduction Act are matched in Canada, following the example of a similar project built by Volkswagen. Champagne urged Ontario to contribute an unspecified "fair share" of the incentives, however, the province said it is up to the federal government to honour its commitments.

https://www.theglobeandmail.com/business/article-ottawa-at-stalemate-over-stellantis-battery-factory-calls-on-ontario/
Canada is getting played by Stellantis, but we asked for it

The Globe and Mail

23-05-16 22:20


Stellantis could cancel its plans to build an electric-vehicle battery plant in Ontario if the company doesn't receive the subsidies it applied for, however, Ottawa and Queen's Park are willing to pay the extra billions needed. The Canadian government broke the bank for Volkswagen with a promise of up to $13bn in production tax credits plus $700m in upfront construction costs, hailed as the German automaker's first battery plant outside Europe. But the incentives could become a race to the bottom and be consumed in higher after-tax corporate profits and higher costs of production, with little or no benefit to workers overall.

https://www.theglobeandmail.com/business/commentary/article-canada-is-getting-played-by-stellantis-but-we-asked-for-it/
FirstFT: US accuses ex-engineer of stealing Apple’s trade secrets

Financial Times

23-05-16 22:19


A Chinese native has been charged by the US Department of Justice with stealing trade secrets from Apple, including information on autonomous vehicle technology. Weibao Wang, a former software engineer accused of stealing thousands of documents, is one of five individuals to be pursued as part of a government task force created to combat the theft of critical technology by foreign countries. Wang, who told investigators he had no plans to travel to China, immediately flew to Guangzhou upon being questioned by law enforcement officers who discovered a large volume of Apple data at his California home in 2018.

https://www.ft.com/content/bbb71e31-1b11-42ff-b76f-494c90cfca82
Australia’s Treasury Wine Sees Long Recovery From China Tariffs

Bloomberg

23-05-17 02:55


Australia's wine exports to China may take years to fully recover from the steep tariffs imposed last year, according to Tim Ford, CEO of Penfolds owner Treasury Wine Estates. Despite recent signs that relations between the two countries are improving, Ford warned that "this isn't going to be a big tap that gets turned on overnight for us". Australian winemakers have sought new markets in the US and UK following the loss of their most lucrative market.

https://www.bloomberg.com/news/articles/2023-05-17/australia-s-treasury-wine-sees-long-recovery-from-china-tariffs?srnd=next-china
Retail’s painful transition

Financial Times

23-05-17 08:19


Home Depot's Q1 earnings came in weaker than expected, with a 2.3% decline in sales growth for products not including lumber. Same-store sales fell 4.5%, with CEO Ted Decker acknowledging that speculation over whether customers are reverting to pre-pandemic spending patterns was a problem for retailers. Consumer patterns may not "end or how quickly it goes" and Home Depot may have to give back growth it picked up during the pandemic, he said. The government's most recent retail sales report also showed "volatile" numbers as many large, mature retailers weighed up uncertainty over spending and growth patterns in the coming year. Meanwhile, falling rates and a weaker dollar helped emerging-market bonds and Treasuries over high-yield bonds, with SocGen recommending the abandonment of high-yield bonds completely to shift to emerging market bonds and Treasuries. However, Andy Brenner, head of international fixed income at NatAlliance, is positive on high-yield bonds as they've transformed in composition over the last decade, including companies like Ford and Kraft-Heinz.

https://www.ft.com/content/73bcbc2c-4477-47b4-9a43-bcf476414ac4
Boris Johnson’s Brexit car crash has wrecked our automobile industry

The Independent

23-05-17 11:22


The UK car industry is facing serious challenges due to Brexit, with the possibility of losing many skilled jobs and export earnings, according to Simon Jenkins in The Guardian. He suggests the volume car industry will enter a period of slow decline and that the impact of Brexit has ensured investment is drained from the sector. The Stellantis Group memos are openly discussing the risks, including the cost of EV manufacturing in the UK becoming uncompetitive leading to relocation of manufacturing operations outside of the UK as previously seen with Ford and Mini. Alongside the closure of Honda, Nissan is reconsidering its commitment to the UK. Jenkins suggests that the UK battery production problems are causing a lack of compliance with the agreed-upon limits, risking tariffs and taxes on car exports, making the industry unprofitable. In the short term, the possibility of an emergency revision to the Brexit trading agreement could delay the collapse of the electric vehicles market in Britain. However, Jenkins suggests Brexit has created an unpredictable place for investment beyond car manufacturing and car exports.

https://www.independent.co.uk/voices/vauxhall-boris-johnson-brexit-b2340518.html
Doug Ford how says the Greenbelt is a ‘scam.’ Was he ever serious about protecting this natural space?

The Toronto Star

23-05-17 10:00


Ontario Premier Doug Ford has gone back on a five-year commitment to protect the Greenbelt, an area of protected farmland and natural space in Toronto, and has instead allowed for housing developments to take place. The U-turn has seen Ford label the Greenbelt a “failed policy.” Initially, he had committed to “unequivocally” preserving the land, even stating his government intended to expand it. Now, suspicion has arisen that Ford was originally duplicitous when he claimed before winning office that he would allow developers to open up the Greenbelt.

https://www.thestar.com/opinion/editorials/2023/05/17/doug-ford-how-says-the-greenbelt-is-a-scam-was-he-ever-serious-about-protecting-this-natural-space.html
Stellantis says UK car factories will close if Brexit deal isn’t changed

CNN

23-05-17 09:53


Stellantis has warned that British car factories will have to close unless the government renegotiated its Brexit trade deal immediately. Under the current trade deal, Stellantis said that it would face tariffs when exporting electric vans to Europe from next year when the tougher post-Brexit rules come into force. The automaker urged the government to reach an agreement with the European Union about extending the current rules on the sourcing of parts until 2027 instead of the planned 2024 change. The warnings echo the fears in the industry that the UK car sector does not yet have the capacity or the supply chain to switch to electric vehicles.

https://edition.cnn.com/2023/05/17/business/stellantis-brexit-uk-car-factories/index.html
EU carmakers join call for delay to post-Brexit rules as pressure on UK industry grows

Financial Times

23-05-17 15:32


The European Automobile Manufacturers’ Association and leading UK carmakers, including Jaguar Land Rover, Ford, Vauxhall and Peugeot owner Stellantis, have called for a delay to post-Brexit rules that could deal a severe blow to the UK’s car industry. From next year, electric vehicles (EVs) shipped from the EU to the UK, and vice versa, will need to source 45% of their parts within the two regions, or face 10% tariffs under the trade deal. This requirement may force EV makers to incur tariffs, prompting industry leaders to call for a delay in the rules of origin requirements.

https://www.ft.com/content/429b0889-8b08-4a3f-9936-8c5360fb27b3
Ford calls for extension of post-Brexit trade rules to 2027

Reuters

23-05-17 13:37


Ford has urged the EU to postpone its requirement for post-Brexit trade rules of origin for EV batteries until 2027. The automaker argued that introducing the rules in 2024 would needlessly raise costs for consumers and slow the transition to electric. A pack of batteries currently accounts for up to half the cost of a new EV and are also cumbersome and costly to move over long distances. The UK also lacks sufficient locally sourced batteries and parts to satisfy demand, Ford noted. The automaker is investing £380m ($480m) to create e-motor capacity in a Liverpool engine plant.

https://www.reuters.com/business/autos-transportation/ford-calls-extension-post-brexit-trade-rules-2027-2023-05-17/
Ford 'disappointed' in Ottawa's handling of rocky Stellantis deal for EV battery plant

CBC

23-05-17 20:01


Ontario Premier Doug Ford has criticised the Canadian federal government for its handling of auto maker Stellantis, following its appeals for assistance with electric vehicle battery plant construction in Windsor. Both the provincial and federal authorities are keen to prevent Stellantis from ending its joint project with LG Energy Solutions, but Ford suggested it is up to the government to deliver on its promises. While Ottawa wants Ontario to pay its "fair share", Ford said the he is unsure what that equates to. The government wanted capital contribution and production subsidies to open Volkswagen's battery factory in St. Thomas, which was licensed in March.

https://www.cbc.ca/news/canada/windsor/windsor-stellantis-1.6846838
Brussels tariffs are endangering net zero, carmakers warn

Telegraph

23-05-17 19:11


European automakers, including Jaguar Land Rover and Ford, are calling for a delay in the introduction of post-Brexit tariffs on electric vehicles due to concerns that it threatens the move to net zero. The new rules, which will come into effect from January 2022, will impose a 10% tax on vehicles shipped to the EU from the UK if they fail to contain sufficient components - equal to at least 45% of the value of an electric vehicle - manufactured in either the UK or the EU. The rules are part of an initiative to prevent Chinese-controlled minerals from entering the EU through the UK and maintain production standards. Industry leaders suggest that the fast implementation of the rules poses a threat to the industry's transition to clean mobility as few gigafactories, which produce batteries, currently exist outside China and Stellantis, the owner of Vauxhall, has said that the proposals could force it to end production in the UK.

https://www.telegraph.co.uk/business/2023/05/17/brussels-tariffs-endangering-net-zero-carmakers-warn/
Ottawa to Doug Ford: Spend more if you want to help save Stellantis battery plant

The Toronto Star

23-05-17 19:03


Stellantis, parent company of Chrysler, Jeep, and Fiat, has halted construction on its EV battery factory in Windsor, Ontario, citing its demands to match the US's manufacturing incentives under the Inflation Reduction Act. The province and federal government each contributed CAD $500m ($399m) for the facility, demanding that Stellantis and LG Energy Solution match subsidies to keep the project competitive in Canada. The Windsor facility will employ 2,500 workers once it reaches its full capacity. The Inflation Reduction Act was introduced six months after the initial March 2022 deal between the government and Stellantis, in which the federal government is contributing CAD $700m to VW's EV battery factory. However, negotiations became difficult as Stellantis demanded that the government live up to its promise to honour the agreement that was made three weeks prior to construction.

https://www.thestar.com/politics/federal/2023/05/17/ottawa-to-doug-ford-spend-more-if-you-want-to-help-save-stellantis-battery-plant.html
Future of Ontario’s Stellantis battery plant remains unclear as Ford ‘disappointed’ in Ottawa

The Globe and Mail

23-05-17 18:37


The future of a $5bn electric vehicle battery plant joint project from automaker Stellantis LV and battery maker LG Energy Solution, in Windsor, Ontario has been thrown into doubt after the two companies halted construction and called on Ottawa to "keep its commitments." The federal government wants Ontario to contribute what it considers its "fair share" to the project, despite having promised in recent years to match subsidies available in the US on similar projects. Ontario Premier Doug Ford says the amounts requested are not clear and says it is Ottawa's job to match US support.

https://www.theglobeandmail.com/business/article-stellantis-ev-battery-plant-ontario/
Doug Ford ‘disappointed’ in feds’ handling of Stellantis deal for EV battery plant

The Globe and Mail

23-05-17 17:57


Ontario Premier Doug Ford is calling on the federal government to clarify its demand that the province pays its "fair share" to ensure an EV battery plant deal with Stellantis and LG Energy Solutions in Windsor, Ontario goes ahead. The complaint comes after Stellantis said the federal government wrote to confirm it had raised production incentives under the US' Inflation Reduction Act five times, without delivering on the promised matching payment. Federal Finance Minister Chrystia Freeland has said provinces that benefit from Ottawa’s $120bn green industrial strategy need to "pay their share".

https://www.theglobeandmail.com/canada/article-doug-ford-disappointed-in-feds-handling-of-stellantis-deal-for-ev/