Latest Ford Motor Co News

Most electric vehicles won't qualify for federal tax credit

Aug. 09, 2022 11:02 AM EDT

DETROIT (AP) — A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress. But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax...

A gentle giant: 49ers' Bryant Young heads to Hall of Fame

Aug. 03, 2022 12:45 PM EDT

Bryant Young straddled the classic football divide between discipline and ferocity more adeptly than just about any player of his generation. For every minute of a 14-year NFL career spent entirely with the San Francisco 49ers, Young was a model teammate and a soft-spoken leader who...

Ford 2Q profit up 19%, sees stronger year despite inflation

Jul. 27, 2022 18:49 PM EDT

DETROIT (AP) — Ford Motor Co.'s net income rose 19% in the second quarter as the company pulled together enough computer chips to boost factory output and sales. The Dearborn, Michigan, automaker said Wednesday it made $667 million from April through June, compared with $561...

Energy Dept. backs $2.5B loan to GM venture for EV batteries

Jul. 26, 2022 12:51 PM EDT

WASHINGTON (AP) — A joint venture between General Motors and South Korean battery company LG Energy Solution is set to receive a $2.5 billion loan from the Energy Department to build battery cell factories for electric vehicles in three states. The Energy Department said it has...

Tesla, Nucor rise; AT&T, United Airlines fall

Jul. 21, 2022 16:12 PM EDT

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Thursday: Tesla Inc., up $72.62 to $815.12. The electric vehicle maker reported a better-than-expected $2.26 billion net profit for its latest quarter. United Airlines...

Ford touts ample supply deals to hit electric vehicle goals

Jul. 21, 2022 07:46 AM EDT

DETROIT (AP) — Ford says it has contracts to deliver enough batteries to produce electric vehicles at a rate of 600,000 globally per year by late in 2023. The company says Thursday that Contemporary Amperex Technology Co. of China will supply new lithium-iron phosphate batteries...

Chip shortage keeps driving up auto prices, cutting sales

Jul. 01, 2022 16:26 PM EDT

DETROIT (AP) — U.S. new vehicle sales tumbled more than 21% in the second quarter compared with a year ago as the global semiconductor shortage continued to cause production problems for the industry. Yet demand still outstripped supply from April through June, even with $5 per...

Ford receives $101M incentive package to expand in Michigan

Jun. 27, 2022 14:06 PM EDT

LANSING, Mich. (AP) — Michigan lawmakers approved a $101 million incentive package for Ford Motor Co. for a planned project that will create 3,030 jobs and $1.16 billion in manufacturing facility investments throughout the state. The tax-funded incentive will be paid in increments...

Ford pledges to work with community near future factory

Jun. 21, 2022 22:37 PM EDT

BROWNSVILLE, Tenn. (AP) — Ford Motor Co. officials on Tuesday pledged to be good neighbors to those in rural west Tennessee who live near the automaker's planned electric truck factory, a project expected to create thousands of jobs and change the face of the region. More than 200...

New Jersey sues Ford over mining that tainted tribal land

Jun. 16, 2022 16:25 PM EDT

RINGWOOD, N.J. (AP) — New Jersey officials sued Ford Motor Co. on Thursday, alleging that the automaker contaminated the ancestral homeland of a Native American tribe by dumping paint sludge and other pollutants into a former mine. The action in state court seeks unspecified...