Ford (NYSE:F), the second largest carmaker in the United States and the fifth largest in the world, has lost 3,000 positions to fund its US$50 billion electric vehicle plans. According to a spokesperson for Ford, while the layoffs will be concentrated in the United States, some employees will be eliminated in Canada and India, notably in Ford’s businesses that manufacture classic internal combustion engine cars.
This comes on the heels of its target of producing 2 million electric vehicles annually by 2026, a huge increase from the 64,000 stated last year.
In September 2021, ...
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Eye on Lithium: Ford Lays off Workers to Focus On Us$50BN EV Plans