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Investing.com -- Ford Motor has announced a significant investment plan for its German unit, Ford-Werke, as part of its European business revival strategy.
The U.S. automaker will put up to 4.4 billion euros ($4.76 billion) into the struggling division, according to a statement released on Monday.
The investment is targeted towards the continuation of strategic transformation initiatives at Ford-Werke. The primary focus will be on cost reduction in Europe and enhancing competitiveness.
John Lawler, the vice chair of Ford Motor Company (NYSE:F), emphasized the importance of this move for the company’s European operations.
He stated, "By recapitalizing our German operations, we are supporting the transformation of our business in Europe and strengthening our ability to compete with a fresh product portfolio."
In addition to the recapitalization, Lawler highlighted the need for further changes to build a sustainable business in Europe. These changes include simplifying the company’s governance, reducing costs, and driving efficiencies.
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