Latest news with #BillFord
Globe and Mail
14 hours ago
- Automotive
- Globe and Mail
'If It Doesn't Stay, it Will Imperil What We Do in Marshall.' Ford Stock (NYSE:F) Gains Despite Battery Factory Threat
Is there trouble ahead at legacy automaker Ford (F)? It may be so, as new signs of declining federal funding for electric vehicles may be about to hit Ford at the battery factory level. Especially given one of the big battery factories Ford has at Marshall. Investors took the news oddly well, though, and sent shares surging upward nearly 2.5% in Friday afternoon's trading. Confident Investing Starts Here: We know that the government has been looking to save a few trillion bucks ever since the Department of Government Efficiency (DOGE) got fired up in earnest. And while it has found a whole lot of potential savings—savings that, even now, are looking to be actively codified into law—there are always other places to look. And production tax credits for electric vehicle batteries may be on the chopping block next. That, in turn—notes Ford's executive chair Bill Ford—would '…imperil what we do in Marshall,' referring to the battery plant in Marshall, Michigan. Ford elaborated 'We made a certain investment based upon a policy that was in place. It's not fair to change policies after the expenditure has been made.' Indeed, Ford is not without a point, but Ford must keep in mind that that policy was made by an administration that no longer exists. Tackling Pikes Peak Annually, Ford has a particular goal in mind for its electric vehicles, a demonstration of their sheer capability known as the Pikes Peak International Hill Climb. Ford has been in on the action for the last three years, and delivered some impressive wins. But this year might be the most impressive yet, as Ford brings a Mach-E Mustang to the hill climb event, and it is looking pretty sharp. Ford revealed back in January that the Pikes Peak run would be a Mustang Mach-E event, and the early word out about the car intended for that run. Reports note that the nose design, and much of the front, is clearly reminiscent of a Mach-E, but the rest of the car has been fundamentally redesigned for the event. Packing a front splitter, a rear wing, and a rear 'ground effect tunnel,' this car has been given the full treatment to give it the best chance at Pikes Peak. The combined effect yields—brace yourself—6,125 pounds of downforce. We will see how this does once the event concludes in late June. Is Ford Stock a Good Buy Right Now? Turning to Wall Street, analysts have a Hold consensus rating on F stock based on two Buys, 12 Holds and three Sells assigned in the past three months, as indicated by the graphic below. After a 15.75% loss in its share price over the past year, the average F price target of $9.71 per share implies 6.95% downside risk. See more F analyst ratings Disclosure Disclaimer & Disclosure Report an Issue
Business Insider
a day ago
- Automotive
- Business Insider
'If It Doesn't Stay, it Will Imperil What We Do in Marshall.' Ford Stock (NYSE:F) Gains Despite Battery Factory Threat
Is there trouble ahead at legacy automaker Ford (F)? It may be so, as new signs of declining federal funding for electric vehicles may be about to hit Ford at the battery factory level. Especially given one of the big battery factories Ford has at Marshall. Investors took the news oddly well, though, and sent shares surging upward nearly 2.5% in Friday afternoon's trading. Confident Investing Starts Here: We know that the government has been looking to save a few trillion bucks ever since the Department of Government Efficiency (DOGE) got fired up in earnest. And while it has found a whole lot of potential savings—savings that, even now, are looking to be actively codified into law—there are always other places to look. And production tax credits for electric vehicle batteries may be on the chopping block next. That, in turn—notes Ford's executive chair Bill Ford—would '…imperil what we do in Marshall,' referring to the battery plant in Marshall, Michigan. Ford elaborated 'We made a certain investment based upon a policy that was in place. It's not fair to change policies after the expenditure has been made.' Indeed, Ford is not without a point, but Ford must keep in mind that that policy was made by an administration that no longer exists. Tackling Pikes Peak Annually, Ford has a particular goal in mind for its electric vehicles, a demonstration of their sheer capability known as the Pikes Peak International Hill Climb. Ford has been in on the action for the last three years, and delivered some impressive wins. But this year might be the most impressive yet, as Ford brings a Mach-E Mustang to the hill climb event, and it is looking pretty sharp. Ford revealed back in January that the Pikes Peak run would be a Mustang Mach-E event, and the early word out about the car intended for that run. Reports note that the nose design, and much of the front, is clearly reminiscent of a Mach-E, but the rest of the car has been fundamentally redesigned for the event. Packing a front splitter, a rear wing, and a rear 'ground effect tunnel,' this car has been given the full treatment to give it the best chance at Pikes Peak. The combined effect yields—brace yourself—6,125 pounds of downforce. We will see how this does once the event concludes in late June. Is Ford Stock a Good Buy Right Now? Turning to Wall Street, analysts have a Hold consensus rating on F stock based on two Buys, 12 Holds and three Sells assigned in the past three months, as indicated by the graphic below. After a 15.75% loss in its share price over the past year, the average F price target of $9.71 per share implies 6.95% downside risk.
Miami Herald
2 days ago
- Automotive
- Miami Herald
Bill Ford says he has no plans to leave the family business
At a time of great uncertainty for the automotive industry, one thing is certain: Bill Ford, executive chairman of Ford Motor Co., says he plans to stay in his role for "a while." "Everybody has a sell-by date," Ford told reporters after a panel at the Detroit Regional Chamber's Mackinac Policy Conference. "But I also feel like, in many ways, I'm hitting my stride. I feel like I have the right combination of experience and energy to help provide leadership for the company for some time. "Will the day come when I won't feel that way?" he continued. "Yes, of course, and I have no idea when that is, but I'm not planning on it. It's not there yet." The comments from the 68-year-old great-grandson of company founder Henry Ford comes amid a historic transformation for the Blue Oval. It's seeking to balance continued demand for gas-powered vehicles and an electrified future, to transform its products into software-driven machines and to navigate a shifting environment when it comes to trade, regulations and incentives. Some might argue that such upheaval could demand new leadership, but Ford, who's been with the company since 1979 and has been executive chairman since 1999, underscored the importance of persisting values of the company, a familiar name and face for the corporation, and the intentionality behind long-term partnerships like Ford's 1977 joint venture in Turkey with Koç Holding with original relations dating to 1928. "We're not going to take golden parachutes and ride off into the sunset. We're here through thick and thin, and I feel like I've proven that over the last 25 years," Ford said. "It's really setting an intention for the future of where this company needs to go." But there are many obstacles in the way. The latest is the "big beautiful" budget bill that could remove production tax credits for electric vehicle battery manufacturers that were established in the Inflation Reduction Act that former President Joe Biden signed in 2022. Bill Ford confirmed losing that could imperil the $3 billion battery plant Ford is building in south-central Michigan's Marshall and the 1,700 jobs it's expected to create. "It needs to be kept in place, the production tax credit, that we have built the business case on Marshall around that," Ford said. "Politicians can agree or disagree on whether those kind of things are desirable, and that's fine, but don't change the rules once you've already made the investment, because that, to me, is just a question of fairness, and that's unfair." He added: "If it goes away, it really puts in peril the plant and the jobs in Michigan." Ford called for greater stability on policies in general from Washington, D.C., as the automotive industry has longer lead times to build product than political terms. He said the same is true in states like Michigan and voiced support for Mayor Mike Duggan, who is running as an independent for governor, because he "understands businesses and the decisions we face." Ford also noted the Ford family meets quarterly to discuss the company. Daughter Alexandra Ford English is a member of Ford's board and said she is in frequent contact with her father about the company's future. "We are always focused on the future," English said during the panel. "A lot of people think about family involvement as being protectors of the past, and that is absolutely not how we view our role. A lot of that stems from Dad and how he thinks about the company. But we just have such a rich opportunity set ahead of us. The industry is changing so rapidly, and so I'm really focused on everything that's going to come for our company." One example she pointed to when she came to the company in 2017 was texting her father pictures and videos of aging office buildings that needed repairs. The automaker has been investing in improvements to its buildings in Dearborn, including a new production development center slated to open later this year, as well as its $940 million advanced mobility campus in Corktown anchored by the restored Michigan Central Station. The company next week will announce the hotel brand that will occupy the top floors of the once-derelict, 1913-built former train depot. Already a Detroit destination ahead of the first anniversary of its reopening party on June 6, the station has become a hotspot for weddings, other events and visits by more than 300,000 people. "And there's really not much to see yet," Ford said. "We're going to announce the hotel next week." Michigan Central Innovation District LLC, the wholly owned subsidiary of Ford charged with running the campus, had sought zoning approval from the city for a hotel to occupy the never-used top floors. A year ago, the selection process had been down to a few finalist brands with the goal of a special hospitality solution for the landmark whose rooms wouldn't be inaccessible in price. Limited retail so far has opened in the station, including a location of the east-side coffee shop Yellow Light and Neighbor x Folk, a creation of Rohani Foulkes behind Detroit's James Beard-nominated cafe Folk. There also a souvenir shop for the station. Additionally, the depot in the fall became the headquarters of Ford's Model e electric vehicle division and occupied by Integrated Services software employees. The first occupant was a lab for Code Next, a computer science education program from Alphabet Inc.'s Google LLC for Detroit high school students. "People love working down there," English said. "It's just a much more urban feel than you get in some of our other buildings. And people coming from other cities want that." Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
Yahoo
2 days ago
- Automotive
- Yahoo
Bill Ford says Michigan battery plant ‘in peril' under proposed legislation
The executive chairman of Ford Motor Co. said its $2.5 billion electric vehicle battery factory in southwestern Michigan would be 'in peril' if it loses production tax credits as called for in proposed U.S. House legislation. The bill, which still must be reconciled by the Senate, could make the plant ineligible for a key manufacturing subsidy due to its ties to Chinese battery company CATL. If that were to happen, it would harm the business case in Marshall, said Bill Ford. 'We have built the business case on Marshall around that,' the chairman told reporters after a panel discussion at the Mackinac Policy Conference. 'My point is politicians can agree or disagree whether those kind of things are desirable, and that's fine. But don't change the rules once you've already made the investment, because that to me is just a question of fairness, and that's unfair.' The company likely will press hard to change the language of the final bill to ensure the factory, located about 107 miles West of Detroit and set to launch production next year, makes it to the finish line. While some lawmakers are seeking to keep tax credits away form 'foreign entities of concern,' as CATL is labeled in the proposed bill, the factory in Marshall would create 1,700 jobs and serve as an economic catalyst, the automaker and proponents has argued. Bill Ford said he is not sure whether the tax credits for the Marshall plant will ultimately be protected. 'I don't know the likelihood, but I do know that if it goes away, it puts in peril the plant and the jobs in Michigan,' he said. The chairman made the remarks after an on-stage interview alongside his daughter and Ford board member Alexandra Ford English at the Mackinac Policy Conference. The discussion, moderated by former TV anchor Christy McDonald, centered on the father-daughter dynamics in one of America's most famous family businesses. Bill Ford, great-grandson of company founder Henry Ford, is the automaker's fourth leader named Ford in its more than 120-year existence. English was elected to the automaker's influential board of directors in 2021, along with her cousin Henry Ford III, son of Edsel B. Ford II, a former board member and director at the company. English began her career in retail, working at Gap Inc. and Tory Burch. Even if she had wanted to jump straight from college to the automaker, her father wouldn't have allowed it. Bill Ford's rule is that family members cannot go right into the business. 'We cannot be a family employment agency,' Ford said. 'We want to make sure the young people that come into our company are incredibly well qualified and motivated.' Sign up for the quarterly Automotive News U.S. Sales report to get data and news sent to your inbox as soon as it's compiled. English served as an employee at the automaker from 2017 until June 2022, running operations for Ford's Autonomous Vehicle LLC before the company shut down efforts to develop a fully autonomous vehicle. She said the inspiration to work for the automaker started when her father would come home from work and talk to his family about his day. The family values and those of the company are one in the same, she said, making it a seamless cultural fit working for the automaker. 'Whenever he spoke about employees, it was always with deep respect, and that leaves an impression,' English said. 'I don't remember anything other than those values. It's all we know.' Ford said one characteristic English is never afraid to bring to the table – over family dinner or in the boardroom – is brutal honesty. That's important, the chairman said, because most others aren't willing to be that blunt with the boss. 'She's always the one that will sit me down and tell me what I don't want to hear,' he said. 'Not many people in life will do that. She's been the brave one.' On the topic of constantly shifting federal policy under President Donald Trump, the chairman said his company, expecting to take a $1.5 billion tariff hit this year, speaks with the White House on a near daily basis. Ford, which boasts the most U.S.-based vehicle production among its domestic counterparts, hopes the Trump administration and lawmakers recognize that when devising policy that could impact its Marshall factory and broader production plans. The company's decision to build more in the U.S. amounts to a $2,000 per vehicle 'penalty' compared to customers more exposed to foreign manufacturing, the chairman said. 'For us, it was the right decision to invest in America and pay that penalty,' he said. 'I don't regret that for a minute.' Have an opinion about this story? Tell us about it and we may publish it in print. Click here to submit a letter to the editor. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Automotive
- Yahoo
Bill Ford says loss of federal funding could 'imperil' Marshall battery factory
Ford Motor Co. Executive Chair Bill Ford, speaking at the Mackinac Policy Conference, sounded the alarm on the potential for Washington to do away with production tax credits that support the manufacturing of electric vehicle batteries. The disappearance of the credits would threaten Ford Motor's investment in a Marshall plant. "If it doesn't stay, it will imperil what we do in Marshall," Ford said on May 29. 'We made a certain investment based upon a policy that was in place. It's not fair to change policies after all the expenditure has been made,' he said. The tax bill passed by the U.S. House of Representatives this month could bar lucrative tax credits for batteries produced using Chinese technology. Ford's factory, now under construction, would make battery cells using tech from Chinese battery giant CATL. The Senate still must deal with the bill, which Democrats oppose and has drawn criticism from some fiscally conservative senators. Ford received a reduced incentive package from Michigan last year for the battery plant after it cut expected production there to match slowing demand for electric vehicles. Since the automaker announced the plant in 2023, it has drawn scrutiny from some lawmakers for its ties to the Chinese company. More: Ford, Michigan cut $750M in planned public support for Marshall site, other EV projects This article originally appeared on Detroit Free Press: Bill Ford: Loss of tax credits could 'imperil' Marshall battery plant
