“Our costs are not competitive, and we are working internally and with our partners to reduce costs in all areas,” a Ford spokeswoman wrote in an electronic mail response to Bloomberg News. “We can only win through a lean and agile organization. These actions are necessary for us to build a healthier and more sustainable business in China.”
She didn’t specify what number of jobs could be lower or present a timeframe.
Ford is restructuring its China operations to show certainly one of its joint ventures into an export hub for low-cost industrial electrical and combustion automobiles, CEO Jim Farley stated in April. The firm additionally plans to function leaner and extra effectively within the nation with a concentrate on extra worthwhile operations, akin to Lincoln and industrial automobiles.
Ford stated earlier this 12 months it could get rid of 3,800 jobs throughout Europe resulting from rising prices amid the transition to EVs. The firm, which has about 173,000 workers globally, has stated it would make investments $50 billion in EV manufacturing by 2026.
“China remains a very important market and Ford is committed to developing our business here,” the spokeswoman stated. “We will continue to accelerate our electrification transformation in China. Our new localized EV products are under development now. We are also working with our partners to strengthen our EV business, including expanding the distribution.”
Source: www.autonews.com