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Ford, VW-backed Argo AI is shutting down

 

Argo AI, an autonomous vehicle startup that burst on the scene in 2017 stacked with a $1 billion investment, is shutting down — its parts being absorbed into its two main backers: Ford and VW, according to people familiar with the matter.

During an all-hands meeting Wednesday, Argo AI employees were told that some people would receive offers from the two automakers, according to multiple sources who asked to not be named. It was unclear how many would be hired into Ford or VW and which companies will get Argo’s technology.

Employees were told they would receive a severance package that includes insurance and two separate bonuses — an annual award plus a transaction bonus upon the deal close with Ford and VW. All Argo employees will receive these. For those who are not retained by Ford or VW, they will additionally receive termination and severance pay, including health insurance. Several people told TechCrunch that it was a generous package and that the founders of the company spoke directly to its more than 2,000 employees.

“In coordination with our shareholders, the decision has been made that Argo AI will not continue on its mission as a company. Many of the employees will receive an opportunity to continue work on automated driving technology with either Ford or Volkswagen, while employment for others will unfortunately come to an end,” Argo said in a statement.

Ford said in its third-quarter earnings report released Wednesday that it made a strategic decision to shift its resources to developing advanced driver assistance systems, and not autonomous vehicle technology that can be applied to robotaxis. The company said it recorded a $2.7 billion non-cash, pretax impairment on its investment in Argo AI, resulting in an $827 million net loss for the third quarter.

That decision appears to have been fueled by Argo’s inability to attract new investors. Ford CEO Jim Farley acknowledged that the company anticipated being able to bring autonomous vehicle technology broadly to market by 2021.

“But things have changed, and there’s a huge opportunity right now for Ford to give time — the most valuable commodity in modern life — back to millions of customers while they’re in their vehicles,” said Farley. “It’s mission-critical for Ford to develop great and differentiated L2+ and L3 applications that at the same time make transportation even safer.”

 

(Techcrunch)

 

 

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  • 2 settimane fa...
6 minuti fa, itr83 scrive:

...

Ormai è ufficiale: i costruttori storici odiano i pezzenti...

Non potendo vendere, in un prossimo futuro, altro che EV a partire da 29.999€ come potrebbero mai chiamarla Fiesta che è sinonimo di auto economica?

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  • 2 mesi fa...

Ford job cuts in Europe: Where the ax will fall

Ford's plans to cut thousands of jobs, mostly in product development, triggered a union threat of Europewide disruption.

 

Ford plans to restructure in Europe as the automaker drops its traditionally high-selling but low-margin passenger cars including the Focus and Fiesta to switch to crossovers, SUVs and all-electric vehicles.

The company wants to ax thousands of jobs in product development and hundreds of administrative roles, with German locations most affected, the IG Metall union said on Monday, vowing action that would disrupt Ford production if the cuts go ahead.

At Ford's technical center in Merkenich, 2,500 of the 3,800 jobs could go. The center does development work for the Fiesta small car and Focus compact model, which are being phased out. Ford currently employs 6,250 people in product development in Europe.

About 700 jobs, or 20 percent of the workforce, could be cut at Ford's European headquarters in Cologne and about 1,200 jobs will be axed at the spare parts business, also in Cologne, local press reports said.

Jobs will also be cut at Ford's research center in Aachen, Germany, the Ford technical center in Dunton in the UK and at the Lommel Proving Ground in Belgium, reports said.

Ford will need fewer people working in product development in Europe as it switches to selling only battery-electric cars in the region by 2030.

The company is spending $2 billion to convert its Cologne plant to build two battery-electric cars based on Volkswagen Group's MEB platform. The EVs will launch this year and next year. Ford has a partnership with VW to produce 1.2 million vehicles on the MEB electric platform over six years.

As part of its EV push, Ford plans a total of seven new electric models in Europe, along with a battery-assembly site in Germany and a nickel cell manufacturing joint venture in Turkey.

Its next-generation EVs sold in Europe, due after 2030, will use a new, software-defined architecture developed in the U.S., which means less work for its engineers in Europe.

Ford warned in June last year of "significant" job cuts to come in the near term at its factory in Valencia, Spain and its plant in Saarlouis, Germany, as the shift to EV production meant it would require fewer labor hours to build cars.

A spokesperson at the automaker's headquarters in Michigan said on Monday that discussions with the German works councils were continuing and that the company needs to be "more competitive" as it transitions to EVs. He would not comment on specific job plans.

Workers were told to expect concrete numbers of job losses from the automaker in mid-February, according to Cologne's daily paper, the Kölner Stadt-Anzeiger.

Industrial action threat

Ford's plans triggered a union threat of Europewide disruption.

"If negotiations between the works council and management in coming weeks do not ensure the future of workers, we will join the process. We will not hold back from measures that could seriously impact the company not just in Germany but Europe-wide," IG Metall said.

Ford of Europe produces, sells and services Ford brand vehicles in 50 markets, employing around 45,000 people at its own facilities and consolidated joint ventures, according to its website.

The latest cuts come three years after Ford's last big jobs cull.

In 2019 Ford announced that it was axing 12,000 jobs in Europe, about 20 percent of the overall workforce, and reducing its manufacturing footprint in the region to 18 facilities from 24.

It ended production at three plants in Russia, closed an engine factory in Bridgend, Wales, and shuttered a transmission plant near Bordeaux, France.

Ford also closed its UK headquarters in Warley, Essex, and consolidated operations in Dunton, where it has a technical center.

 

(ANE)

 

 

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38 minuti fa, 4200blu scrive:

Ford job cuts in Europe: Where the ax will fall

Ford's plans to cut thousands of jobs, mostly in product development, triggered a union threat of Europewide disruption.

 

Ford plans to restructure in Europe as the automaker drops its traditionally high-selling but low-margin passenger cars including the Focus and Fiesta to switch to crossovers, SUVs and all-electric vehicles.

The company wants to ax thousands of jobs in product development and hundreds of administrative roles, with German locations most affected, the IG Metall union said on Monday, vowing action that would disrupt Ford production if the cuts go ahead.

At Ford's technical center in Merkenich, 2,500 of the 3,800 jobs could go. The center does development work for the Fiesta small car and Focus compact model, which are being phased out. Ford currently employs 6,250 people in product development in Europe.

About 700 jobs, or 20 percent of the workforce, could be cut at Ford's European headquarters in Cologne and about 1,200 jobs will be axed at the spare parts business, also in Cologne, local press reports said.

Jobs will also be cut at Ford's research center in Aachen, Germany, the Ford technical center in Dunton in the UK and at the Lommel Proving Ground in Belgium, reports said.

Ford will need fewer people working in product development in Europe as it switches to selling only battery-electric cars in the region by 2030.

The company is spending $2 billion to convert its Cologne plant to build two battery-electric cars based on Volkswagen Group's MEB platform. The EVs will launch this year and next year. Ford has a partnership with VW to produce 1.2 million vehicles on the MEB electric platform over six years.

As part of its EV push, Ford plans a total of seven new electric models in Europe, along with a battery-assembly site in Germany and a nickel cell manufacturing joint venture in Turkey.

Its next-generation EVs sold in Europe, due after 2030, will use a new, software-defined architecture developed in the U.S., which means less work for its engineers in Europe.

Ford warned in June last year of "significant" job cuts to come in the near term at its factory in Valencia, Spain and its plant in Saarlouis, Germany, as the shift to EV production meant it would require fewer labor hours to build cars.

A spokesperson at the automaker's headquarters in Michigan said on Monday that discussions with the German works councils were continuing and that the company needs to be "more competitive" as it transitions to EVs. He would not comment on specific job plans.

Workers were told to expect concrete numbers of job losses from the automaker in mid-February, according to Cologne's daily paper, the Kölner Stadt-Anzeiger.

Industrial action threat

Ford's plans triggered a union threat of Europewide disruption.

"If negotiations between the works council and management in coming weeks do not ensure the future of workers, we will join the process. We will not hold back from measures that could seriously impact the company not just in Germany but Europe-wide," IG Metall said.

Ford of Europe produces, sells and services Ford brand vehicles in 50 markets, employing around 45,000 people at its own facilities and consolidated joint ventures, according to its website.

The latest cuts come three years after Ford's last big jobs cull.

In 2019 Ford announced that it was axing 12,000 jobs in Europe, about 20 percent of the overall workforce, and reducing its manufacturing footprint in the region to 18 facilities from 24.

It ended production at three plants in Russia, closed an engine factory in Bridgend, Wales, and shuttered a transmission plant near Bordeaux, France.

Ford also closed its UK headquarters in Warley, Essex, and consolidated operations in Dunton, where it has a technical center.

 

(ANE)

 

 

Stanno facendo un macello, e aggiungo: tra qualche anno fanno come GM, escono dall'Europa e si concentrano solo negli Stati Uniti 

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16 minuti fa, machefredfa scrive:

Stanno facendo un macello, e aggiungo: tra qualche anno fanno come GM, escono dall'Europa e si concentrano solo negli Stati Uniti 

Secondo me, no. O meglio, non esattamente.

 

Ci stanno lavorando da qualche anno per cambiare la loro immagine in Europa e renderla più iso-USA (Mustang Mach-e, Kuga/Escape  come mezzo globale).

 

Alla fine, a loro interessa chiudere con Fiesta e Focus, auto a bassissimo margine. Il resto, gli va bene. Però a rimetterci saranno i lavoratori, questo si purtroppo.

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Secondo me non lasceranno del tutto l'Europa, si "limiteranno" ad abbandonare lo sviluppo, che sarà solo Made in Usa, e qualche stabilimento di produzione, vendendo pochi modelli (Seg. C a salire) con buoni margini.

Tra l'altro pare che pure GM, per fare un paragone, voglia tornare in Europa, con un piano simile.

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Ford is in talks with China's BYD to sell German plant, report says

Ford is gauging interest from around 15 potential investors for its plant in Saarlouis, which builds the Focus compact car, the Wall Street Journal reported.

 

Ford is in talks with Chinese electric-vehicle maker BYD over the sale of its plant in Saarlouis, Germany, the Wall Street Journal reported, citing people familiar with the matter.

 

Ford will end production of the Focus compact car at the plant in 2025 as the company shrinks its vehicle lineup in Europe to concentrate on full-electric cars and light commercial vans.

The future of the Saarlouis factory has been unclear since last June when Ford picked its plant in Valencia, Spain, to build its next-generation electric vehicles over the German plant.

Ford executives plan to travel to China next week to discuss the potential sale with BYD, the Journal reported. Talks are still in a preliminary stage and may ultimately fall through, the report said.

Ford said last June it is seeking alternatives for vehicle production at Saarlouis, including involving other manufacturers. The factory employs 4,600 workers.

The Journal report said Ford is also gauging interest from about 15 potential investors, but the terms of any deal are not known.

Ford and the regional government of Saarland agreed last September to cooperate on finding new investors for the plant, with a final decision on a buyer to be approved by both parties.

Saarland's regional economy minister, Juergen Barke, said in December that buyers were interested, without providing detail. A spokesperson for the ministry declined to comment on ongoing negotiations.

BYD, the world's biggest seller of battery-electric vehicles and plug-in hybrids in 2022, told Reuters in October it was looking to produce electric cars in Europe. It currently makes electric buses at a plant in Hungary. Chinese automaker Nio also has a factory in Hungary, near Budapest, where it makes power products for its battery-swapping stations. 

Separately, Ford said on Tuesday that it intends to decide by mid-February on how many jobs will be cut in Europe after announcing plans to layoff up to 3,200 people at its factory in Cologne, Germany, where it builds the Fiesta small car.

Management figures presented a worst-case scenario of up to 2,500 job cuts in product development and a further 700 in administration.

Ford has committed to an all-electric lineup in Europe by 2030 and its U.S. leadership has repeatedly flagged that EVs require less labor.

Its European staff last saw a wave of job cuts in 2019 and 2020 as the carmaker pursued a 6 percent operating margin in the region, a goal thrown off course by the coronavirus pandemic, with pretax profit margins in Europe in the first nine months of 2022 at just 2.2 percent of sales.

 

(Reuters)

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