Ford Motor Company is preparing to cancel its operations due to poor sales The team will be integrated back into Ford China
Ford Motor Company to cancel operations and integrate team back into Ford China due to poor sales
【PhoneAuto News】In the current fierce competition in the domestic new energy market, even Ford, whose electric car sales performance is still good in the US market, is still performing poorly in China.
Ford electric vehicle
On June 8th, according to a report by Jiemian News, it was exclusively learned from multiple insiders that Ford China is currently undergoing organizational restructuring. The Ford electric vehicle team, which was originally separated into Ford Autonomous Vehicles LLC, will be integrated back into Ford China, and this independent electric car company will be cancelled in the future. It is reported that this organizational restructuring will involve more than 2,000 employees and is expected to be completed in July.
- NIO ET5 Travel Edition arrives at the store, external display tomorrow, officially launched on June 15th
- After Ford, General Motors announced that it will join Tesla’s Supercharger network
- The Strongest Porsche Ever? Porsche Unveils Mission X, a Pure Electric Supercar Concept
It is understood that the dissolution of the company is mainly due to its sales not meeting expectations. Insiders told reporters that because the sales of Ford electric cars are too poor, this independent company cannot be self-sufficient. However, the team’s reintegration does not mean that Ford electric vehicles will withdraw from China. It will continue to be produced by Changan Ford after Ford Autonomous Vehicles LLC is cancelled.
Since entering the Chinese market in 2021, the sales of Ford electric vehicles have not improved. After reaching a peak of 1,535 units sold in December last year, the sales of Ford electric vehicles have gradually declined. The latest sales data in April was only 332 units, which is less than the sales of the benchmark model Tesla Model Y, and is also far behind the SUV models of many domestic new energy brands.
Ford electric vehicle interior
However, from a global perspective, Ford’s electric vehicle division is also in a loss-making state. In March last year, Ford spun off its automotive division and established the electric and fuel vehicle business unit Ford Model E and Ford Blue, and the commercial vehicle business unit Ford Pro, forming three new business units. The first quarter financial report this year showed that Ford’s electric car business unit had a pre-tax loss of $722 million, the only loss-making division among Ford’s three independent business units.
Ford Electric Mach-E Technology was established in 2020 with a registered capital of 665 million US dollars. Ford China and Nanjing Jiangning Economic and Technological Development Co., Ltd. respectively hold 81.2% and 18.8% of the shares in the company. Currently, the company is still in operation.
- The first batch of X-PEV vehicles from GEEK are officially offline at the Chengdu factory, and delivery will begin in mid-June
- The first batch of Tesla Cybertrucks will be launched at the end of August with an annual production capacity of 375,000 vehicles
- Ideal ONE has officially sold out nationwide and it is not possible to order from the official website
- Dongfeng Motor Group Co, Ltd The cumulative sales of automobiles from January to May this year reached 766,365 units
- In May of this year, the retail sales of passenger vehicles reached 1742 million units, an increase of 286% compared to the same period last year
- BYD’s Wang Chuanfu The automotive industry has entered a race to eliminate those without core technology will survive
- Changan Automobile Total car sales exceeded 200,000 in May, a year-on-year increase of 3249%