You are here: Home » International » News » Companies
Business Standard

Ford to slash $14 bn in costs, cut car models under new CEO

Auto major plans to shift capital investment away from sedans and internal combustion engines to develop more trucks and electric and hybrid cars

Reuters  |  Detroit 

Ford Motor Co plans to slash $14 billion in costs over the next five years, Chief Executive Officer Jim Hackett told investors on Tuesday, adding that the No 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 ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Wed, October 04 2017. 17:43 IST
RECOMMENDED FOR YOU