Click here to submit a Letter to the Editor, and we may publish it in print. 1155 Gratiot Avenue Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150. Ford Chief Executive Jim Farley has issued a statement to this effect and as the company faces a lean business future the closure of production in Brazil is the only other alternative. As CEO, Farley is focused on accelerating Ford’s transformation through operational excellence that benefits customers and delivers sustainable profit growth. The JV break-up comes a few months after Jim Farley took over as the CEO of Ford. February 2, 2021 | GM is all-in on EVs but will consumers follow? We are currently looking for experienced automotive journalists and editors to join our team.  Make $60k-$80k per year doing what you love. We are also looking for an experienced forum moderator to join our team. 48207-2997, Automotive News Why it matters: The announcement is the latest sign of how the world's biggest carmakers are pouring more resources into tech that's still a tiny slice of the auto market. Terms of the deal were not disclosed, although Farley told CNBC it's worth "hundreds of millions" of dollars. He was the president and chief executive officer of Ford Motor Company from May 2017 to October 2020. The Google deal and a subsequent commitment last week that nearly doubles Ford's investment in electrification to $22 billion through 2025 offer a peek into Farley's strategy: invest in expanding and updating the well-established subbrands within Ford's lineup while leaving costly, time-consuming commodity work to others. Ford needs to start making the chip itself Jim Farley doesn’t have a clue. It's an early win under Farley for an automaker often chided by Wall Street for a lack of flashy announcements, hailed by one analyst as a "step in the right direction" that could generate billions in revenue. February 5, 2021, 10:52 am Choose your news – we will deliver. Although the automaker suffered its first full-year net loss since 2008, Farley vowed that Ford would "start to grow again, but most importantly, in the right areas," after spending considerable capital in recent years on low-margin vehicles. Ford CEO Jim Farley said he was pleased with the company’s progress amid a challenging year. Brett Foote People involved said both sides developed a friendly relationship with no bad blood from five years ago, when talks went south after Ford reportedly wanted more of a high-profile partnership than the quiet, technical tie-up Google desired. For more information, see our Privacy Policy. He also said more information on Ford's EV efforts would come during a spring investor day, an event his predecessor abandoned much to the consternation of Wall Street analysts looking for more concrete details. Ford Motor Co. CEO Jim Farley took to Twitter on Thursday to weigh in on the bitter trade secrets dispute between South Korean electric vehicle battery makers LG … January 19, 2021 | Small car part causes big problem, What Dale Pollak would have said on the show floor, 5 auto industry AI trends for 2021 and beyond, How Tesla, GM transformed EV market in 2020, Beijing's uphill battle to boost EV sales, Nasdaq-like Star Board poised to become key finance platform, Dealers aren't wrong to be wary of EV hype, Economy needs assistance, but dealers do not, Used-car biz not getting easier, but it's better, Dealers need to see how diversity pays off, Right hires required for digital retail age, AutoNews Now: Cadillac to dealers: Gasoline-powered vehicles to pave EV path, AutoNews Now: New NADA chairman: 'We need to start looking at things differently', AutoNews Now: Hyundai's '21 product push includes pickup, EV, AutoNews Now: Farley: Commercial EVs will present 'new opportunities for dealers', First Shift: Ford seeks 13% retail growth, First Shift: Nissan upgrades full-year outlook after operating profit rises, First Shift: Hyundai, Kia say Apple talks are off, First Shift: Ford's Farley: We won't cede ground on EVs, COVID, chips and checks: Sales headwinds and tailwinds for 2021, N.J. dealer helps position peers for ‘electric revolution’, 'Finding the diamond in the rough': How 2020's No. This time around, Ford has said that Google will not have access to customer data, but Morgan Stanley analyst Adam Jonas said Ford is likely to share key vehicle data that's not customer-specific. 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Ford Motor Co. ended 2020 posting a loss for the final quarter of the year as well as for the full year as the pandemic wreaked havoc on the company’s already difficult financial position. New Ford CEO Jim Farley recently made it quite clear that he intends to reduce warranty costs and improve new vehicle launches moving forward, and even had extra workers on standby in case problems surfaced with the 2021 F-150 during its early stages of production. We don't have all the answers. Ford said Google's technology can help it spot defects in manufacturing processes, improve supply chain logistics, alert customers when their vehicle needs service or offer trade-in alerts, for example. Google was identified as the top target and talks began roughly nine months ago, the people said. ISSN 2576-1064 (print) All rights reserved. The legal contract was signed on Dec. 30. As we’ve reported extensively in recent weeks, a global semiconductor chip shortage is causing serious production headaches for automakers including Ford, General Motors, Volkswagen, Subaru, Toyota, Nissan, and Fiat Chrysler.Things have gotten so bad that a group of 15 senators recently asked the White House to take action, but in a new interview with CNBC, Ford CEO Jim Farley … “We’re adjusting, moving the chips that we do have to the most profitable vehicles, electric vehicles – protecting the production of strategically important vehicles.”.