Ford (F) signs battery supply deals ahead of EV ramp

Premier Ford says fate of Stellantis (STLA) EV battery plant in hands of federal government

Last week, Stellantis (NYSE: STLA) and its partner LG Energy Solutions halted construction on its $3.7 billion EV battery plant in Windsor, claiming the federal government has not delivered what was agreed to.

The new auto plant was announced in March last year, but tensions emerged when the United States passed the Inflation Reduction Act (IRA), a massive package of clean-tech incentives for companies.

Early last week, Canada's Industry Minister Francois-Philippe Champagne said the federal government had increased its planned support for Stellantis and that to... More

Jaguar Land Rover-owner set to choose UK over Spain for EV battery plant

The BBC reports Wednesday that Tata Motors, parent company to Jaguar Land Rover Automotive, is set to pick Britain for a multi-billion dollar electric vehicle battery plant. A plant some have described as the most significant investment in UK automotive since Nissan came to Britain in the 1980s.

A Tata chairman is expected to fly to London next week to meet the prime minister and finalize the deal to build the battery factory, which could employ 9,000 people in Somerset,... More

BMW unveils new electric i5 with 295-mile range

The BMW Group unveiled its new 2024 BMW i5 during a digital world premiere on Wednesday after teasing glimpses of its first all-electric 5 Series for weeks.

As a combustion model, the 5 Series has held a prominent position in the company's lineup since 1972, and it continues to be the second best-selling vehicle for the German automaker behind the 3 Series. It has been known for a while now that BMW has been actively developing an all-electric version of the 5 Series, alongside plug-in hybrids and traditional combustion engine options.

With its unmistakable resemblance to the 5 Series,... More

Mercedes is bringing an electric CLA sedan to US to challenge Tesla's Model 3

Mercedes-Benz held their annual North American dealer meeting last week where the automaker emphasized its transition into the electric era. To maintain and further accelerate their progress, Mercedes informed dealers about the exciting array of electric vehicles (EVs) they have in store. Among the upcoming additions in 2024 are an electric CLA sedan and a GLC crossover, both contributing to the expanding lineup of EVs.

In the first quarter, the U.S. vehicle... More

Tesla (TSLA) likely to pick new factory location by years end, says India 'absolutely' an interesting option

Elon Musk, the multi-billionaire CEO of Tesla (NASDAQ: TSLA), made an appearance at the CEO Council conference hosted by the Wall Street Journal on Tuesday. During the event, he suggested that Tesla might unveil a new factory as part of its global expansion before the year ends.

The CEO didnt give any indications on where the new factory would be located, but agreed with the moderator that India was... More

California pushes Biden Admin to ban sales of new gas-vehicles by 2035

According to an exclusive report from Reuters on Tuesday, California's Air Resources Board (CARB) has asked the Biden administration to give the green light to a plan that would require all new vehicles sold in the state by 2035 to be either electric or plug-in electric hybrids. This landmark move, mentioned in a letter seen by Reuters, could help hasten the... More

Ford (F) reverses decision, will continue to include AM radio

Ford (NYSE: F) CEO Jim Farley announced Tuesday that the Detroit automaker is reversing a previous decision to remove AM radio from its vehicles, both electric and gasoline, in 2024.

Farley, in a post on his LinkedIn professional page and a tweet on Twitter, said, "After speaking with policy leaders about the importance of AM broadcast radio as a part of the emergency alert system, we've decided to include it on all 2024 Ford & Lincoln vehicles. For any owners of Ford EVs... More

Secretary Buttigieg voices 'real concern' over Tesla (TSLA) autopilot driver interaction

U.S. Transportation Secretary Pete Buttigieg voiced his concerns Tuesday over the interaction between Teslas (NASDAQ: TSLA) full self-driving program and drivers.

"There is a real concern that's not limited to the technology itself but the interaction between the technology and the driver," Buttigieg told reporters when asked about the Tesla Autopilot probe.

This issue has been under investigation by the National Highway Traffic Safety Administration (NHTSA) since 2021,... More

Oppenheimer remains sidelined on Tesla (TSLA), acknowledges innovation and production milestones

Oppenheimer reiterated a Perform rating on Tesla (NASDAQ: TSLA) after visiting the electric automakers factory in Austin Texas. Austin production reached 5K vehicles/week in May shortly after Berlin.

Based on Oppenheimer's analysis, the current production of 4680 batteries is on track to sustain a rate of 1,000 vehicles per week. They anticipate that Tesla will primarily dedicate the majority of its 4680 battery capacity to support the ramp-up of the Cybertruck production, considering the improved availability of... More

Tesla (TSLA) expands Canadian market with China-made Model 3 and Model Y vehicles

Tesla's (NASDAQ: TSLA) website confirmed on Tuesday that the electric vehicle company has officially made China-produced Model 3 and Model Y models available for purchase in Canada. This announcement confirms that Tesla has successfully completed its initial shipments from its Shanghai factory to North America.

The website showed both... More

Ford (F) explores cost management at its Capital Markets Day

Ford Motors (NYSE: F) held their Capital Markets Day on Monday in Dearborn, Michigan where the company focused on the steps they are taking to meet longer-term profit targets, including actions related to cost, software and services, and product mix.

Ford reiterated its long-term goal of achieving a 10% EBIT margin by 2026, with the Model e segment aiming for 8%. The Ford Blue division is anticipated to achieve a double-digit EBIT margin, while Ford Pro is expected to reach a mid-teen EBIT margin. Ford's production forecast for the Model e assumes the manufacturing of 2... More

Exxon (XOM) quietly joins lithium hunt as EV demand continues to grow

A Wall Street Journal exclusive reports over the weekend that the oil and gas company, Exxon Mobil (NYSE: XOM) recently purchased drilling rights to a sizable chunk of Arkansas land from which it aims to produce lithium, a key ingredient in batteries for electric cars, cell phones and laptops.

Exxon has reportedly acquired... More

Ford (F) details newest electric SUV at Delivering Ford+ Capital Markets day

Ford Motor (NYSE: F) held its Delivering Ford+ capital markets day on Monday where new chief officer of EVs and digital systems, Doug Field released details surrounding the companys newest upcoming three-row electric SUV.

The model will be sized like the Expedition, but won't replace it, as the two will be sold alongside each other and aimed at different customers.

"We could've converted an Expedition into an EV,... More

CEO Jim Farley says Ford (F) will stop competing in over-served markets

Ford (NYSE: F) CEO Jim Farley revealed at the Detroit automakers capital markets day Monday, that the company will stop competing in over-served market segments and instead will place big bets on connected vehicles and digital services.

Farley said the company has been stuck in a box, with thin profit margins, weak growth and low stock valuation.

The CEO said that Ford will emphasize software and services as well as iconic vehicles... More

Ford (F) to detail EV strategies at 'Delivering Ford+' Capital Markets Day

Detroits Ford Motor (NYSE: F) will be hosting its capital markets day on Monday, where the automotive giant has promised to detail their plans to meet its previously announced targets for 8% EBIT margin target for its electric vehicle division and a production run rate of 2 million electric vehicles by 2026, a significant increase from the projected 600,000 by the end of this year.

We will take you through why we believe that 8% margin is totally realistic despite all the pricing pressure that we will absolutely get because everyone wants to grow, CEO Jim Farley said during... More

Compass Minerals (CMP) Signs Binding Multiyear Agreement to Supply Ford Motor Company (F) with Battery-Grade Lithium Carbonate

Compass Minerals (NYSE: CMP), a leading global provider of essential minerals, today announced the signing of a binding, multiyear supply agreement to provide Ford Motor Company (Ford; NYSE: F), a global auto manufacturer, with battery-grade lithium carbonate from its Ogden, Utah, lithium brine development project.

We are excited to formalize a long-term relationship with Ford, one of the most trusted and iconic brands in the automotive industry and a leader in the transition to vehicle electrification, said Kevin S. Crutchfield, president and CEO. We look forward to... More

Albemarle (ALB) Establishes Strategic Agreement With Ford Motor (F)

Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, today announced a definitive agreement with Ford Motor Company (NYSE: F) to deliver battery-grade lithium hydroxide to support the automaker's ability to scale electric vehicle (EV) production.

Albemarle will supply more than 100,000 metric tons of battery-grade lithium hydroxide for approximately 3 million future Ford EV batteries.... More

Ford Motor (F) and Nemaska Lithium enter long-term lithium hydroxide supply agreement

Ford Motor Company (NYSE: F) has entered into a long-term agreement with Nemaska Lithium for the supply of lithium products, including lithium hydroxide, over an 11-year period. The agreement calls for the delivery of up to 13,000 tons of lithium hydroxide per year. The agreement also provides that prior to commencing delivery of lithium hydroxide produced in Bécancour, Nemaska Lithium will supply Ford with spodumene concentrate from... More

Ford seeks to reassure investors with EV, cost cut plans

By Joseph White, David Shepardson and Ernest Scheyder

DEARBORN, Michigan (Reuters) - Ford Motor Co on Monday unveiled an ambitious strategy to profitably ramp up electric vehicle sales but faces a challenge to slash $7 billion in costs and regain credibility on Wall Street.

"You're not going to believe us until we start delivering it," Ford Chief Financial Officer John Lawler said at an investor day presentation. "Because we've told you this before. That's the truth. We have and we haven't delivered. So we have to prove it. We can talk about it, but we have to prove it."

Ford Motor (F) Says Ford+ is Maximizing Value for Customers, Improving Business Resilience, Efficiency, Growth, Margins

Less than two quarters into full deployment, the teams behind the Ford+ (NYSE: F) growth plans new customer-centered business segments are redefining customer value, while at the same time reducing cyclicality, improving capital efficiency, and generating profitable growth and strong free cash flow.

Thats the essential message of CEO Jim Farley, CFO John Lawler and other Ford leaders to hundreds of investors, analysts and others attending the companys capital markets event today in-person and virtually.

The program will be livestreamed, with supporting material, via... More

Ford Motor (F) option implied volatility into capital market day

Ford Motor (NYSE: F) 30-day option implied volatility is at 32 into capital market day.

U.S. administration announces $51M investment towards EV charging network

The Biden-Harris administration, on Thursday announced a $51 million Ride and Drive Electric funding opportunity through President Bidens Bipartisan Infrastructure Law to accelerate the electrification of the nations transportation sector and spur private sector investments in clean transportation.

This funding will help to increase reliability of chargers by providing funding for validating and testing charging equipment and increase opportunities for underserved communities through new jobs and training resources.

Thanks to President Bidens Investing in America agenda, we are developing a... More

Ford recalls 422,000 SUVs because rear view camera display may fail

By David Shepardson

WASHINGTON (Reuters) -Ford Motor Co is recalling 422,000 sport utility vehicles in the United States because the video output may fail even after getting a prior recall repair, preventing the rear view camera image from displaying.

The new recall covers 2020 through 2023 Ford Explorer, Lincoln Aviator, and 2020-2022 Lincoln Corsair SUVs with a 360-degree camera.

The recall expands and replaces prior... More

Ford Motor (F) option IV at low end of range

Ford Motor (NYSE: F) 30-day option implied volatility is at 32; compared to its 52-week range of 32 to 587.