Author: Ben Klayman
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The manufacturing backlash: No factory in my backyard
By Timothy Aeppel and Ben Klayman MARSHALL, Michigan (Reuters) – Fred Chapman has a message for Ford Motor Co, which is planning to build a sprawling factory on the outskirts of this town to make batteries for electric cars and which promises to employ 2,500 people. “We don’t need jobs,” he says. That’s a surprising…
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Ford may slash ad spending, revamp dealers to boost EV profit, CEO says
By Paul Lienert and Ben Klayman (Reuters) – Ford Motor Co needs to overhaul its century-old business model – from slashing advertising spending to reworking its dealer network – if it is to earn enough profit on electric vehicles to compete with Tesla and others, the automaker’s chief executive said on Wednesday. The shift from…
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GM and Honda expand electric vehicle partnership
By Ben Klayman DETROIT (Reuters) – General Motors and Honda Motor Co on Tuesday said they will co-develop a series of electric vehicles based on a new joint platform, allowing production of millions of cars starting in 2027. The announcement expands on plans for GM to begin building two electric SUVs for Honda starting in…
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GM outlook doesn’t impress, sees chip shortage continuing; shares sink
By Ben Klayman and Paul Lienert DETROIT (Reuters) -General Motors Co offered a profit forecast for 2021 that disappointed analysts on Wednesday, as its third-quarter earnings were hit by a global semiconductor shortage and rising commodity prices, factors it expects to continue until late 2022. Chief Executive Mary Barra attempted to counter the downbeat financial…