Ford to stake future on trucks and electrification

How Ford Will Join the Electric-Car Revolution

Many experts agree that a wave of new regulations worldwide, including strong commitments from the Chinese government to roll out electric vehicles, are doing more to influence the direction of USA automakers than consumer demand.

The automaker declared an objective of accomplishing 8 percent automotive operating margins and generating returns that exceed the expense of capital.

Ford is no longer forecasting whether profit will jump in 2018 and will share its forecast for next year in January.

Shifting to all-electric vehicles is not a good decision as per other automakers. Hackett took over from former CEO Mark Fields in May.

We sit down with Jim Hackett, Ford Motor Company's new CEO, to talk about his new position and the company's future.

Investors immediately responded favorably, giving Ford shares a 0.5% bump on Tuesday. Since Hackett became CEO, Ford has said it will move USA production of the next-generation Focus to China and announced a partnership with Mahindra in India to bolster Ford's business there.

Ford has announced that it will be moving away from "traditional cars" and will invest more heavily in autonomous and electric vehicles.

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Built-in modems and mobile internet connections are one of the areas Ford is trying to catch up on. The company says it will offer internet connectivity on all of its US -bound models by 2019 and in 90 percent of its vehicles sold worldwide by 2020.

United States automaker Ford Motor Co is overhauling its China plans as its global "One Ford" strategy is holding it back in the world's biggest auto market, two high-ranking company insiders told Reuters.

In dollar values, the new plan will call for the implementation of a "cost attack plan" that will save $4 billion in engineering costs over the next five years, and an additional $10 billion in savings in material cost efficiencies.

"I feel a real sense of urgency for what we're doing here", Hackett said.

It is cutting funding for internal combustion engines by a third and putting that money into electrification, on top of £34 million already announced.

Those connections are expected to be key as the automaker competes to bring autonomous and electric-vehicle technologies to market. Ford's presentation "was generally lacking in the detail auto investors crave, with more McKinsey-like thought slides than those with actual numbers".

Global demand for electric vehicles has "a significant potential to increase" as governments implement EV mandates and quotas, Marakby said in an interview.

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