Ford has just submitted their business plan to the US Congress, detailing plans for future profitability and an electric car strategy. Congress asked for business plans from the ailing 'Big 3' automakers, in consideration for 'bridge financing'.
Ford's plan indicates that they expect to break even or turn a profit in 2011 from their North American business. The automaker additionally outlined plans for an accelerated electric vehicle program with hybrids, plug-in hybrids and battery electric vehicles- including an electric sedan in 2011.
Some $14 billion dollars will be invested in the U.S. on advanced technologies to improve fuel efficiency as well, and corporate aircraft will be sold off as part of an overall cash improvement plan.
Ford may consider selling Volvo as well- not long after having already sold Jaguar, Land Rover, Aston Martin, and most recently, most of its stake in Mazda.
"For Ford, government loans would serve as a critical backstop or safeguard against worsening conditions, as we drive transformational change in our company" said Ford President and CEO Alan Mulally. "Ford is committed to building a sustainable future for the benefit of all Americans. We believe Ford is on the right path to achieve this vision".
Mulally testifies before congress this week.
photo:Ford
Ford's plan indicates that they expect to break even or turn a profit in 2011 from their North American business. The automaker additionally outlined plans for an accelerated electric vehicle program with hybrids, plug-in hybrids and battery electric vehicles- including an electric sedan in 2011.
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| Alan Mulally, President and CEO Ford Motor Company |
Some $14 billion dollars will be invested in the U.S. on advanced technologies to improve fuel efficiency as well, and corporate aircraft will be sold off as part of an overall cash improvement plan.
Ford may consider selling Volvo as well- not long after having already sold Jaguar, Land Rover, Aston Martin, and most recently, most of its stake in Mazda.
"For Ford, government loans would serve as a critical backstop or safeguard against worsening conditions, as we drive transformational change in our company" said Ford President and CEO Alan Mulally. "Ford is committed to building a sustainable future for the benefit of all Americans. We believe Ford is on the right path to achieve this vision".
Mulally testifies before congress this week.
photo:Ford