"When we looked for a partner to help us deliver a major initiative, we didn't want to simply hire highly qualified talent, that would have been the simplest, and probably the wrong, approach. With CI&T, we built the concept of a single, integrated team: people open to innovation and committed to constant experimentation in the use of AI. This balance moved us out of inertia and opened new possibilities for what we could achieve,†says Wellyson Bianchini, IT Manager at Ford. NEW YORK--(BUSINESS WIRE)--CI&T ( ...

ROMULUS, MI - FEBRUARY 13: Ford CEO Jim Farley pats a Ford F-150 Lightning truck before announcing at a press conference that Ford Motor Company will be partnering with the world's largest battery company, a China-based company called Contemporary Amperex Technology, to create an electric-vehicle battery plant in Marshall, Michigan, on February 13, 2023 in Romulus, Michigan. Part of a multi-billion dollar investment, the battery plant will provide approximately 2,500 jobs. (Photo by Bill Pugliano/Getty Imag ...

Core Insights - Ford announced a significant write-off of $19.5 billion related to its electric vehicle business, yet this news did not lead to panic among shareholders [1] Company Summary - The $19.5 billion write-off indicates substantial financial challenges within Ford's electric vehicle segment [1] - Despite the write-off, shareholder confidence appears to remain intact, suggesting a potential long-term belief in the company's strategy or recovery [1] Industry Summary - The announcement reflects broader challenges faced by the electric vehicle industry, particularly in managing costs and achieving profitability [1] - The reaction of shareholders may indicate a growing acceptance of volatility and risk within the electric vehicle market as companies navigate their transition strategies [1]

Shares of  Ford Motor Company ( NYSE: F ) gained 6.13% over the past month after gaining 9.65% the month prior. ...

Core Insights - The U.S. automotive industry is experiencing a shift away from fully electric vehicles (EVs), as evidenced by Ford's recent announcement to scale back its EV-focused business strategy, including scrapping plans for a new electric truck and converting its F-150 Lightning to a hybrid model [1][2][9] Industry Challenges - Manufacturing costs for vehicles in the U.S. have risen due to higher labor costs, stricter environmental regulations, and supply chain issues, leading to increased investment risk [4][5] - Regulatory changes and the elimination of federal tax credits for EVs have added uncertainty to investment decisions in U.S. manufacturing [5][6] - Ford's flagship EV, the F-150 Lightning, has faced profitability issues, with the cost of production rising significantly from an initial price of $40,000 to around $55,000 for the 2025 model [6][7] Market Dynamics - Despite record-high EV sales in the U.S. this year, the market is still heavily influenced by consumer sentiment, which has shown signs of decline, particularly among gas and hybrid vehicle drivers [15][16] - The global EV market is dominated by China, which accounts for approximately 70% of global EV production, highlighting the competitive challenges faced by U.S. automakers [11][12] Future Outlook - While Ford is scaling back on larger electric vehicles, it plans to focus on smaller, more affordable models and expand its hybrid offerings [10][19] - Experts remain optimistic about the long-term potential of EVs, citing advancements in battery technology and the overall positive experience of EV ownership [18][19] - The U.S. EV industry has faced fluctuations before, and while current economic conditions may justify a pullback, there is a risk of falling behind when the market rebounds [20]

Ford has canceled an electric vehicle battery contract with LG worth 9.6 trillion Korean won (US$6.52 billion). ...

Core Viewpoint - LG Energy Solution has terminated a significant electric vehicle battery supply agreement with Ford Motor, valued at approximately 9.6 trillion won ($6.50 billion) [1] Company Summary - The termination of the deal indicates a shift in LG Energy Solution's strategic direction or potential challenges in fulfilling the agreement with Ford [1] - The financial implications of this termination could affect both companies' future collaborations and market positions in the EV battery sector [1] Industry Summary - The electric vehicle battery supply chain is experiencing volatility, as evidenced by the cancellation of major contracts like the one between LG Energy Solution and Ford [1] - This event may signal broader trends in the EV industry, including potential supply chain disruptions and the need for companies to reassess their partnerships and sourcing strategies [1]

Ford Motor Company (NYSE:F) is pivoting away from electric vehicles (EVs) and at least one analyst is praising the move.The Analyst: RBC Capital Markets analyst Tom Narayan maintained a Sector Perform rating on Ford, with a $12 price target.The Analyst Takeaways: Due to lower-than-expected EV demand, Ford is restructuring its strategy, Narayan said in a new investor note.Read Also: Ford Motor Reports Better-Than-Expected Q3 Earnings: What To KnowAmong the coming changes:Exiting the BlueOval SK joint venture ...

Well, he's making pivots when pivots are needed. Some would say maybe a little bit late, because Ford has lost billions of dollars per year on this EV escapade. So I was going through the numbers and saw they lost 1,000,000,021 2,000,000,022 5,000,000,023 5 billion in 24.And they have to do something. Just stanch the bleeding. This guy is this guy have a job after a $19 billion failure of EV simply because it's basically a private company run by our good friend Bill Ford Junior.Is it basically a quasi priva ...

Ford CEO Jim Farley announced the company is cutting production of the electric F-150 Lightning and refocusing its investment on hybrid vehicles and affordable EVs. The Detroit automaker announced the move on Monday and explained it will take a $19.5 billion charge on its EV assets and product roadmap. The change will bring about roughly $5.5 billion in cash effects with the majority paid in 2026 and the remainder in 2027.Farley appeared on FOX Business Network's "Kudlow" and said the move will allow Ford t ...