Latest news with #AutoTechandSemiconductorConference
Yahoo
13-02-2025
- Automotive
- Yahoo
Ford CEO says factory jobs "at risk" if Trump repeals EV credits
Ford CEO Jim Farley is sounding the alarm over potential job losses if President Donald Trump follows through on plans to repeal electric vehicle (EV) tax credits. Speaking at the Wolfe Research Auto, Auto Tech and Semiconductor Conference, Farley emphasized that cutting these incentives could put thousands of U.S. manufacturing jobs at risk, The Detroit News has committed significant resources to expanding EV production, including the construction of four battery plants in Michigan, Kentucky, and Tennessee. These projects, developed with a joint venture partner, South Korea-based SK On Ltd., represent billions in investment and are expected to create nearly 13,000 jobs. Farley warned that rolling back Inflation Reduction Act (IRA) provisions that subsidize EV battery manufacturing could force Ford to scale back or even cut jobs. "We've already sunk capital—even though we've rationalized it—in battery production and assembly plants all through Ohio, Michigan, Kentucky, and Tennessee," Farley said. "And many of those jobs will be at risk if the IRA is repealed."The IRA, signed into law by President Joe Biden in 2022, provides up to $7,500 in tax credits for EV buyers and includes subsidies for U.S.-based battery production. The latter provision is particularly crucial for automakers like Ford, which depend on these credits to offset high manufacturing costs. Battery cells alone are eligible for a $35 per kilowatt-hour credit, reducing overall production expenses and allowing Ford to develop more affordable EV models. Farley said these subsidies are essential for the future of EV adoption, especially in the lower-cost segment. "There is a very underserved group of people where actually running an EV is cheaper than an internal combustion engine product," he said. "But these very large EVs that cost $50,000, $60,000, $70,000—we don't believe that's the future."On his first day back in office, Trump signed an executive order directing federal agencies to review and potentially repeal incentives favoring EVs. He also paused funding for the national EV charging network, a move that is already facing legal challenges. Ford's financial outlook has already been strained by high EV production costs, with its Model e EV division expected to lose up to $5.5 billion in 2025. The loss of tax credits would further complicate Ford's ability to make EVs profitable. Chief Financial Officer Sherry House warned that changes to the program would be "very material" to Ford's bottom also expressed concern over Trump's recent tariff policies, including a 25% duty on aluminum and steel. Although Ford sources 90% of these materials domestically, suppliers with international ties could still drive costs up. "There's a lot of policy uncertainty here," Farley said, pointing to potential disruptions in supply chains and production. "But in the meantime, we're scrambling to manage the company as professionals, and we're in a global race." Despite these concerns, Ford remains committed to its EV transition, though the pace may slow. Industry analysts suggest that while Ford is unlikely to abandon its EV projects entirely, it may delay investments or cut back production if tax credits disappear. While Trump has positioned himself as a champion of American manufacturing, Farley warned that reversing EV policies could do more harm than good. "President Trump has talked a lot about making our U.S. auto industry stronger," he said. "If this administration can achieve that, it would be one of the most signature accomplishments so far."
Yahoo
29-01-2025
- Business
- Yahoo
BlackBerry to Participate in Upcoming Investor Event
BlackBerry Executives to speak at upcoming Wolfe Research conference WATERLOO, ON / / January 29, 2025 / BlackBerry Limited (NYSE:BB)(TSX:BB) today announced its participation at the following investor conference: Wolfe Research Auto, Auto Tech and Semiconductor Conference - Wednesday, February 12, 2025, at 12:00pm ET Tim Foote, BlackBerry Chief Financial Officer, and John Wall, Chief Operating Officer QNX, Head of Product, Engineering & Services, will join Wolfe Research for a fireside chat. Register here for the live stream. A replay of the event will be available on the website. About BlackBerry BlackBerry (NYSE:BB)(TSX:BB) provides enterprises and governments the intelligent software and services that power the world around us. Based in Waterloo, Ontario, the company's high-performance foundational software enables major automakers and industrial giants alike to unlock transformative applications, drive new revenue streams and launch innovative business models, all without sacrificing safety, security, and reliability. With a deep heritage in Secure Communications, BlackBerry delivers operational resiliency with a comprehensive, highly secure, and extensively certified portfolio for mobile fortification, mission-critical communications, and critical events management. The company is also a pioneer in leveraging Artificial Intelligence and Machine Learning to deliver advanced cybersecurity solutions to its customers. For more information, visit and follow @BlackBerry. Investor Contact: BlackBerry Investor Relations+1 (519) 888-7465investorrelations@ Media Contact: BlackBerry Media Relations+1 (519) 597-7273mediarelations@ SOURCE: BlackBerry View the original press release on ACCESS Newswire Sign in to access your portfolio
Yahoo
28-01-2025
- Automotive
- Yahoo
Micron Announces Investor Event
BOISE, Idaho, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU) announced today that company executives will participate at the Wolfe Research Auto, Auto Tech and Semiconductor Conference in New York, New York on Wednesday, February 12, at 6:50 a.m. Mountain time. Live webcasts and subsequent replays of presentations can be accessed from Micron's Investor Relations website at About Micron Technology, Inc. We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit © 2025 Micron Technology, Inc. All rights reserved. Information, products, and/or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners. Micron Media Relations ContactMark PlungyMicron Technology, Inc.+1 (408) 203-2910mplungy@ Micron Investor Relations ContactSatya KumarMicron Technology, Inc.+1 (408) 450-6199satyakumar@
