Ford exec: Au­tomaker po­si­tioned for fu­ture

The Detroit News - - Front Page - BY IAN THI­BODEAU The Detroit News

Ford Mo­tor Co. is lean­ing on ex­pe­ri­ence amid calls for a clear path to the fu­ture of the auto in­dus­try.

Joe Hin­richs, Ford pres­i­dent of global op­er­a­tions, told Gold­man Sachs an­a­lysts Tues­day in Bos­ton that the Blue Oval’s his­tory will drive the com­pany for­ward as it ex­pands into elec­tri­fi­ca­tion, au­ton­o­mous ve­hi­cles and other new mo­bil­ity fields. The com­ments come as CEO Jim Hack­ett out­lines plans to cut $14 bil­lion in costs over the next five years and change the Dear­born­based com­pany to drive up value.

It was the third time in two weeks that a Ford ex­ec­u­tive has pointed to the com­pany name­plate as a driv­ing force into a fu­ture where tra­di­tional au­tomak­ers will com­pete in elec­tri­fi­ca­tion, au­ton­o­mous driv­ing tech­nol­ogy and mo­bil­ity ser­vices like ride-shar­ing and shut­tle ser­vices.

“Ford will be part of the so­lu­tion of the fu­ture of trans­porta­tion mo­bil­ity chal­lenges,” Hin­richs, said when asked why some­one should buy Ford stock today. “We’re go­ing to be part of that so­lu­tion as we have been for 114 years. And we have ca­pa­bil­i­ties and ex­pe­ri­ences that mat­ter in this busi­ness. We’re go­ing to be a suc­cess­ful part of that plan.”

Hin­richs told in­vestors that con­sumer con­fi­dence in the Ford brand will add value in the fu­ture, though he of­fered no new in­for­ma­tion on the com­pany’s plan un­der its new CEO. Hack­ett and Ex­ec­u­tive Chair­man Bill Ford Jr. have done the same at re­cent talks in Detroit.

Ford’s pick­ups will con­tinue

Hin­richs

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.