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Building more parts in-house rather than purchasing them from other suppliers makes financial sense and retains jobs, said CEO Jim Farley.
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The steps Ford is taking now to cut costs and boost revenue could pay off in big dividends in the future.
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The facility will further Ford CEO Jim Farley’s goal to build 2 million EVs annually by the end of 2026.
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Ford Motor Co. will eliminate 3,000 jobs globally, according to a letter sent to employees Monday.
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Two members of the U.S. House of Representatives have launched a bipartisan effort to spur legislative efforts that support self-driving vehicles.
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Ford Motor stock hit its best month since the Great Recession, advancing nearly 32% since its 127.4% surge in April 2009.
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Ford Motor Co. reported nearly a 32% increase in U.S. sales in June, as it improved truck and SUV deliveries and rolled out an all-electric pickup.
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General Motors and Ford Motor Co. CEOs say they are watching for signs of a U.S. recession, despite demand for autos being strong.
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CEO Jim Farley says the automaker has no plans to spin off its EV business during a virtual Wolfe Research investor conference.
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GM entered a deal with semiconductor chip manufacturers to keep its North American assembly lines in production.
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