- Ford continues to invest in a broad set of EV programs as it
works to build a full EV line-up. In parallel, Ford is expanding
its hybrid electric vehicle offerings. By the end of the decade,
the company expects to offer hybrid powertrains across its entire
Ford Blue lineup in North America.
- Equipment installation is underway at the Tennessee Electric
Vehicle Center assembly plant at BlueOval City, which aims to begin
customer deliveries of Ford’s next-generation electric truck in
2026
- Expansion progresses at Ohio Assembly Plant in Avon Lake, to
produce an all-new electric commercial vehicle for Ford Pro
customers beginning mid-decade; construction progressing at
BlueOval Battery Park Michigan, and BlueOval SK joint venture
battery plants in Tennessee and Kentucky
- Ford reiterates commitment to its Oakville, Ontario, assembly
plant as the company retimes the launch of its all-new three-row
electric vehicles to 2027
- Design work continues on future EVs, including a flexible small
and affordable EV platform by a skunkworks team in California
Ford Motor Company said today it is retiming the launch of
upcoming electric vehicles at its Oakville, Ontario, assembly plant
while continuing to build out an advanced industrial system to
produce its next-generation electric vehicles, including greenfield
construction and conversion of existing assembly plants.
The company continues to invest in a broad set of EV programs as
it works to build a full EV line-up. These initiatives support the
development of a differentiated and profitably growing EV business
over time while Ford serves customers with the right mix of gas,
hybrid and electric vehicles based on demand today. In parallel,
Ford is expanding its hybrid electric vehicle offerings. By the end
of the decade, the company expects to offer hybrid powertrains
across its entire Ford Blue lineup in North America. In the first
quarter of 2024, Ford’s electric vehicle sales increased by 86% and
hybrid sales rose 42% versus a year ago.
“As the No. 2 EV brand in the U.S. for the past two years, we
are committed to scaling a profitable EV business, using capital
wisely and bringing to market the right gas, hybrid and fully
electric vehicles at the right time,” said Jim Farley, Ford
president and CEO. “Our breakthrough, next-generation EVs will be
new from the ground up and fully software enabled, with
ever-improving digital experiences and a multitude of potential
services.”
Assembly plant in Oakville, Ontario
The transformation of Oakville Assembly Plant – a comprehensive
overhaul of the plant from a gas vehicle assembly plant into an EV
manufacturing complex – is set to begin in the second quarter, as
planned.
Preparations continue for the market launch of Ford’s all-new
three-row electric vehicles at the assembly complex in Oakville,
Ontario, which the company said it will re-time to 2027 from 2025.
The additional time will allow for the consumer market for
three-row EVs to further develop and enable Ford to take advantage
of emerging battery technology, with the goal to provide customers
increased durability and better value.
“We value our Canadian teammates and appreciate that this delay
will have an impact on this excellent team,” Farley said. “We are
fully committed to manufacturing in Canada and believe this
decision will help us build a profitably growing business for the
long term.”
The company will work with Unifor to mitigate the impact the
launch delay will have on its workforce at Oakville.
“We are committed to taking care of our valued Oakville
employees through this transition,” said Bev Goodman, president and
CEO, Ford Canada. “While this change requires a revision to the
timeline, it will support a viable and growing future for our
company, employees and dealers.”
BlueOval City
The creation of the BlueOval City campus – Ford’s new advanced
auto production complex that includes the Tennessee Electric
Vehicle Center assembly plant – is progressing on track. In
addition to paint shop and vehicle assembly equipment, installation
is also underway for nearly 4,000 tons of stamping equipment that
will produce the sheet metal stampings for Ford’s next all-new
electric truck.
Ford plans to begin customer deliveries of the new truck in 2026
and gradually ramp up production to help assure quality. The
Tennessee Electric Vehicle Center will be Ford’s first Industry 4.0
plant, combining automation and connectivity to help elevate
quality and efficiency.
Prospective employees can meet with Ford representatives at the
new Ford Tennessee Discovery Center in Brownsville, Tenn., once it
opens. The plant’s management team brings together strong leaders
from around the world, including Ford veterans and talent from
Tesla, Amazon, Meta, Toyota, FedEx and more. Community members also
will be welcome to experience advanced manufacturing through
virtual reality simulations at the Discovery Center.
Ohio Assembly Plant
Additionally, Ford continues its expansion of Ohio Assembly
Plant in Avon Lake to produce an all-new electric commercial
vehicle for Ford Pro customers beginning mid-decade.
Half of the structural steel is erected on the site, interior
slabs are being poured, concrete walls are going up and masonry is
beginning on interior walls. Ford expects to begin tool
installation at Ohio Assembly Plant in spring 2025.
Employees at the plant, like at other Ford manufacturing
facilities, will use wearable technology to support high-quality
and efficient manufacturing.
Future EVs
Design work continues on Ford’s future-generation EVs. A
skunkworks team in California is developing a smaller, low-cost,
profitable, flexible EV platform capable of underpinning multiple
vehicles at high volumes. Alan Clarke leads the growing team, which
includes personnel from Auto Motive Power (AMP) following Ford’s
acquisition of the EV energy management startup in late 2023.
In the meantime, construction is progressing at BlueOval Battery
Park Michigan, in Marshall, Mich., and at the BlueOval SK joint
venture battery plants in Tennessee and Kentucky.
About Ford Motor Company
Ford Motor Company (NYSE: F) is a global company based in
Dearborn, Michigan, committed to helping build a better world,
where every person is free to move and pursue their dreams. The
company’s Ford+ plan for growth and value creation combines
existing strengths, new capabilities and always-on relationships
with customers to enrich experiences for customers and deepen their
loyalty. Ford develops and delivers innovative, must-have Ford
trucks, sport utility vehicles, commercial vans and cars and
Lincoln luxury vehicles, along with connected services. The company
does that through three customer-centered business segments: Ford
Blue, engineering iconic gas-powered and hybrid vehicles; Ford
Model e, inventing breakthrough EVs along with embedded software
that defines exceptional digital experiences for all customers; and
Ford Pro, helping commercial customers transform and expand their
businesses with vehicles and services tailored to their needs.
Additionally, Ford provides financial services through Ford Motor
Credit Company. Ford employs about 177,000 people worldwide. More
information about the company and its products and services is
available at corporate.ford.com.
For news releases, related materials and high-resolution photos
and video, visit www.media.ford.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240404793241/en/
Media Inquiries Said Deep
313.658.0104 sdeep@ford.com Jessica Enoch 313.402.3388
jenoch@ford.com Equity Investment
Community Lynn Antipas Tyson 914.485.1150 ltyson4@ford.com
Fixed-Income Investment Community
Jessica Vila-Goulding 313.248.3896 jvila5@ford.com Shareholder Inquiries 800.555.5259 or 313.845.8540
stockinf@ford.com
Ford Motor (NYSE:F)
Historical Stock Chart
From Oct 2024 to Nov 2024
Ford Motor (NYSE:F)
Historical Stock Chart
From Nov 2023 to Nov 2024