Autos James Hackett

  • Gary Jones, the newly-elected President of the United Auto Workers (UAW), addresses the 37th UAW Constitutional Convention June14, 2018 at Cobo Center in Detroit, Michigan. 

    The talks are expected to be the most contentious in a decade amid "America first" policies from the Trump administration, a tight labor market and thousands of job cuts and cost reductions as the industry prepares for an expected economic downturn.

  • An employee works on an engine production line at a Ford factory on January 13, 2015

    A large share of the 12,000 new European job cuts will target hourly employees.

  • Ford Motor Company president and CEO James Hackett

    Ford Motor said Monday that it is laying off about 7,000 salaried workers, about 10% of that global workforce, as part of a restructuring plan designed to save the No. 2 automaker $600 million annually.

  • An electrical charging port sits on the bodywork of a Kuga Vignale hybrid automobile displayed during a Ford Motor Co. launch event in Amsterdam, Netherlands, on Tuesday, April 2, 2019.

    As millions of Americans begin to signal interest in electric vehicles, Ford Motor says innovating in the EV industry is one of the automaker's top priorities as it prepares to roll out 16 battery-electric vehicles by 2022.

  • Jim Hackett, president and chief executive officer of Ford Motor Co., center, speaks to members of the media at an event during the 2018 North American International Auto Show (NAIAS) in Detroit, Jan. 14, 2018.

    Despite a steep decline in first-quarter profits, investors are turning upbeat on the second-largest domestic automaker, sending Ford shares soaring past the $10 mark for the first time since last August.

  • April 24- Ford Motor Co said on Wednesday it will invest $500 million in U.S. electric vehicle startup Rivian Automotive LLC, joining Amazon.com Inc in backing the potential rival to Silicon Valley's Tesla Inc. Michigan- based Rivian, founded in 2009, has raised more than $1.5 billion from investors. A company spokesman declined to provide a valuation for the...

  • April 24- Ford Motor Co said on Wednesday it will invest $500 million in U.S. electric vehicle startup Rivian Automotive LLC, joining Amazon.com Inc in backing the potential rival to Silicon Valley's Tesla Inc. Ford said it will use Rivian's "skateboard"- a chassis that bundles electric motor, batteries and controls- to build a new vehicle for North America.

  • April 24- Ford Motor said on Wednesday it was investing $500 million in U.S. electric pickup truck startup Rivian Automotive LLC, becoming the latest deep pocket investor in the firm, which is seen as a potential rival to Silicon Valley's Tesla Inc.. Like Tesla, Plymouth, Michigan- based Rivian has drawn enthusiastic reviews from the motoring press for its trucks...

  • March 21- Ford Motor Co on Thursday named Amazon.com Inc veteran Tim Stone as chief financial officer, the automaker's first external hire for the role in seven decades. Stone, 52, replaces Bob Shanks, who will retire at the end of 2019 after serving the company for 42 years. The group included Robert McNamara and Arjay Miller, both of whom later became Ford...

  • Workers build a truck as it goes through the assembly line at the Ford Kentucky Truck Plant in Louisville, Kentucky.

    Ford is building a new plant in Michigan as the company realigns factories to focus on its future lineup of self-driving and electric cars.

  • Last month, Ford said it would close its oldest factory in Brazil. It also said it would get out of its heavy commercial truck business in South America, a move that could cost more than 2,700 jobs. Ford has said its global reorganization will involve thousands of jobs and possible plant closures in Europe and result in $11 billion in charges.

  • SAO PAULO/ DETROIT, Feb 19- Ford Motor Co said on Tuesday it will close its oldest factory in Brazil and exit its heavy commercial truck business in South America, a move that could cost more than 2,700 jobs as part of a restructuring meant to end losses around the world. Following that announcement, analysts and investors had expected a similar restructuring in...

  • SAO PAULO/ DETROIT, Feb 19- Ford Motor Co said on Tuesday it would exit its heavy commercial truck business in South America in a plant closing that could cost more than 2,700 jobs, part of a global restructuring meant to end losses in different regions. The factory in Sao Bernardo do Campo, an industrial suburb of Sao Paulo, has operated since 1967 and was Ford's first...

  • Feb 13- Partners Volkswagen AG and Ford Motor Co are at odds over how much the German automaker will invest in the No. 2 U.S. automaker's self-driving vehicle unit, with Ford seeking at least $500 million, people familiar with the negotiations said. Analysts and investors have focused on the potential savings their alliance could generate, so any sign of problems...

  • Feb 13- Volkswagen AG and Ford Motor Co have been unable to reach agreement on whether or how much the German automaker will invest in Ford's self-driving vehicle unit, people familiar with the negotiations said. VW has resisted agreeing to invest in Ford's autonomous vehicle unit, instead preferring to announce the companies will simply work together in that...

  • Jan 24- Ford Motor Co Chief Executive Jim Hackett told employees late on Thursday the No. 2 U.S. automaker would not accept last year's "mediocre" results and said the company was aiming to nearly double its annual operating profit. Ford announced its fourth-quarter results on Wednesday, reporting a 2018 operating profit of $7 billion with a profit margin of 4.4...

  • DETROIT, Jan 23- Ford Motor Co on Wednesday posted a lower operating fourth-quarter profit as losses in every global region except North America weighed on results. It is making cuts in Europe, looking to reorganize its South American operations and turn around China- all unprofitable regions. Ford said on Jan. 10 that it would cut thousands of jobs and look at...

  • Jim Hackett (r), CEO of Ford, and Herbert Diess, CEO of VW, at the Detroit auto show last January.

    Both automakers already have commercial vehicles businesses around the world, and the commercial vehicle segment is expected to grow in the near future.

  • Here's what Ford's CEO says to expect from the company in 2019

    CNBC's Phil LeBeau sits down with Ford CEO Jim Hackett to discuss the state of the company and what they expect going forward.

  • Jim Hackett, president and chief executive officer, Ford Motor stands outside the headquarters as they celebrate the production of the 10,000,000 Mustang on August 8, 2018 in Dearborn, Michigan. 

    Ford CEO Jim Hackett said on a conference call the automaker will begin sharing more information on the plans to redesign the company