PresentationOperator Good morning, ladies and gentlemen. Welcome to DAVIDsTEA's Third Quarter Results Webcast for fiscal 2025. Today's webcast is being recorded [Operator Instructions]. Before we get started, I would like to remind you of the company's safe harbor language. This webcast includes forward-looking statements about expectations for the performance of the business in the coming quarter and year. Each forward-looking statement contained in this webcast is subject to risks and uncertainties that c ...

Ford's $19.5 billion writedown tied to a reset of its electric-vehicle business highlights the mounting challenges for legacy automakers as they navigate waning demand and a changed regulatory backdro... ...

EVs aren't really working out for Ford, so now it's chasing the AI boom instead. The Detroit auto giant said on Monday it would pull back from electric vehicles in a move that would cost the company $19.5 billion.In addition to scrapping planned electric models and building more hybrids, Ford said it would repurpose its EV battery factory in Kentucky to build batteries to power data centers and energy infrastructure. The Mustang maker added that it would invest $2 billion to scale the new energy storage b ...

Core Insights - The company is incurring $19.5 billion in charges related to its electric vehicle (EV) investments as it adapts to consumer trends [1] Financial Impact - The $19.5 billion charge reflects the company's strategic shift towards aligning with evolving consumer preferences in the EV market [1]

Meanwhile, we were discussing this earlier, uh, Ford re-examining its EV strategy in a big way. The company is going to take a multi-billion dollar charge. Philippo joins us with the latest.We were batting it around. I want to hear your take on where things are right now, and then we'll get into it all. >> Well, where they are is the company is admitting that its previous strategy, it wasn't working.Was it a complete failure. No. But it was definitely not succeeding.Nowhere close to profitable. When you loo ...

Ford's EV Strategy Shift - Ford is taking a $19.5 billion write-down of its electric vehicle division due to weak demand, high costs, and regulatory changes [3] - The company will end production of the current generation F-150 Lightning and focus on hybrids, extended range vehicles, and smaller EV models [5] - By 2030, Ford aims for approximately 50% of its global volume to consist of hybrids, extended range EVs, and pure EVs, up from 17% currently [5] Financial Projections - Ford raised its 2025 EBIT estimate to $7 billion from a previous range of $6 billion to $6.5 billion and confirmed free cash flow guidance of $2 billion to $3 billion for 2025 [4] Production and Infrastructure Changes - The next generation of the F-150 Lightning will utilize an extended range electric vehicle architecture and will be assembled at the Rouge Electric Vehicle Center in Dearborn, Michigan [6] - Ford plans to convert its Kentucky and Michigan EV battery plants to produce energy cells for the electric grid and data center demand [6] Market Reaction - Following the announcement, Ford's shares increased by 2% in after-hours trading, while Tesla shares fell slightly, and General Motors and Stellantis remained unchanged [7]

Ford Motor to take big EV charge, Bitcoin dips below $86,000, Trump forms Tech Force, and more news to start your day. ...

Core Viewpoint - Ford Motor Co. is taking a nearly $20 billion charge as it transitions from electric vehicles to hybrids, which has had minimal impact on its stock but negatively affected shares of battery manufacturers [1] Group 1 - Ford's decision to shift focus from electric vehicles to hybrids involves a significant financial charge of nearly $20 billion [1] - The stock performance of Ford remained stable despite the substantial charge, indicating investor confidence or a lack of immediate concern regarding the transition [1] - The announcement led to a decline in shares of battery makers, reflecting market reactions to Ford's strategic shift away from electric vehicles [1]

Core Points - Ford Motor is recalling 32,160 vehicles in the United States due to a loss of drive power, which increases the risk of a crash [1] Company Summary - The recall affects a total of 32,160 vehicles, highlighting potential safety concerns related to drive power loss [1] - The action is in response to findings from the U.S. National Highway Traffic Safety Administration (NHTSA) [1]

Ford is switching gears, away from some electric vehicles. In a news release on Monday, the company announced several changes to its EV production, saying it is deprioritizing fully electric large vehicles, which were not making it money."Ford no longer plans to produce select larger electric vehicles where the business case has eroded due to lower-than-expected demand, high costs and regulatory changes," Ford said in the release. The company also plans to stop the production of electric commercial vans i ...