Ford: restructuring plan for European operations
(CercleFinance.com) - Ford Motor Company today announced restructuring plans aimed at creating a more cost-competitive structure and ensuring the long-term sustainability and growth of its European operations.
The automaker says the state of the passenger car segment in Europe - where the company has suffered significant losses in recent years - is 'particularly worrying', while the transition to electric vehicles and the arrival of new competitors have profoundly disrupted the sector.
The plan includes the elimination of 4,000 jobs by 2027, mainly in Germany and the UK.
The automaker also indicates that, due to weak demand for electric vehicles, it will also adjust production of the Explorer and Capri, resulting in days of short-time working at the Cologne plant in early 2025.
In this context, Ford calls for collaboration between European players to support the transition to electric, and stresses the need for public investment in recharging infrastructure and consumer incentives.
The company remains committed to Europe with 'major investments', including $2 billion to transform its Cologne plant into a center for electric vehicles. Ford is aiming for a distinctive vehicle offering, integrating advanced software solutions and complying with European regulations.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The automaker says the state of the passenger car segment in Europe - where the company has suffered significant losses in recent years - is 'particularly worrying', while the transition to electric vehicles and the arrival of new competitors have profoundly disrupted the sector.
The plan includes the elimination of 4,000 jobs by 2027, mainly in Germany and the UK.
The automaker also indicates that, due to weak demand for electric vehicles, it will also adjust production of the Explorer and Capri, resulting in days of short-time working at the Cologne plant in early 2025.
In this context, Ford calls for collaboration between European players to support the transition to electric, and stresses the need for public investment in recharging infrastructure and consumer incentives.
The company remains committed to Europe with 'major investments', including $2 billion to transform its Cologne plant into a center for electric vehicles. Ford is aiming for a distinctive vehicle offering, integrating advanced software solutions and complying with European regulations.
Copyright (c) 2024 CercleFinance.com. All rights reserved.