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Ford to cut costs by $14 bn; invest in trucks, electric cars

Ford will be open to more partnerships to spread the costs and risks of simultaneously developing new technology and services

Joseph White & Paul Lienert | Reuters  |  Detroit 

Ford Motor plans to slash $14 billion in costs over the next five years, Chief Executive Officer Jim Hackett told investors on Tuesday, adding that the number 2 US automaker would shift capital investment away from sedans and internal combustion engines to develop more trucks and electric and hybrid cars.   Most of those savings will not show up on Ford's bottom line until 2019 and 2020, Hackett and other Ford executives said, reflecting the industry's long product engineering lead times. Ford will be open to more partnerships to spread the costs and risks of ...

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First Published: Thu, October 05 2017. 03:47 IST
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