Ford will cut spending by $14 billion

Ford урежет расходы на $14 млрд

New CEO wants to abandon the development of certain models of cars.

Carmaker Ford Motor is planning to cut spending by $14 billion and to abandon the development of certain models of cars. New CEO Jim Hackett plans to focus on creating crossovers, SUVs, trucks, electric vehicles and unmanned vehicles, according to Bloomberg.

Over the next 5 years, Ford wants to cut spending on materials by $10 billion engineering and $4 billion, but will increase the funding to run models midsize Ranger pickup truck and Bronco SUV.

In addition, the automaker plans to redistribute the $7 billion that was earmarked for the development of passenger cars to SUV’s and trucks. The company also will actively participate in mergers, acquisitions and joint ventures.

Jim Hackett was appointed CEO of Ford Motor in may. The company, he came a year ago and led the division Smart Mobility, which were not considered key. It deals with developments in the field of unmanned vehicles.

We will remind, the American company Ford was forced to recall about 117 000 vehicles because of problems with the seat belts.

In the summer of 2016 Ford recalled about 830 thousand cars 2012-2016 model years to replace the locks on the side doors.