Connect with us

Published

on

As automakers race to solidify their position in the new era of electric vehicles, Ford is pulling from its past to gain an edge in the future. According to a new report, Ford expects to develop its own in-house platform, shifting from its previous alliance with Volkswagen.

Ford developing an in-house platform shifting from VW MEB

Ford partnered with Volkswagen in 2020 to use the German automaker’s Modular electric drive matric (MEB) platform to launch an electric vehicle in Europe.

Although Ford’s EV offerings consist of the F-150 Lightning and Mustang Mach-E in the US, it wanted to take a more global approach, partnering with VW to produce “at least one, probably two passenger vehicles built off the MEB platform, and they will be at a lower price point than the Mustang Mach-E” according to the president of Ford Europe, Stuart Rowley.

To enter the evolving European market with maximum speed and profitability, it made sense at the time for Ford to partner with VW. The partnership is expected to double its planned volume to 1.2 million units over the next six years.

GM of Ford Model e Europe, Martin Sander, gave us a glimpse of what we can expect, teasing a photo of the EV under wraps with a comment, “can’t wait for 2023 to arrive when we will pull the cover off our first electric passenger vehicle coming from Cologne.”

Ford-VW-platform-EV
Ford EV on VW MEB (Source: Ford)

However, it seems the collaboration will be short-lived. According to a new report from Financial Times, Ford is looking to move away from VW’s MEB platform as it’s developing its own in-house system.

Martin Sander, head of electric vehicles in Europe, says the new system has:

No kind of integration [with VW], it is very versatile, very capable. We are exploring all kinds of opportunities, how far we can gom what kind of segments we can cover with this.

Meanwhile, Sanders says a final decision has yet to be made, and Ford is open to developing EVs with VW or other automakers.

Ford announced in October it would scrap Fiesta production as it works to trim its portfolio and focus on electric vehicles. Sanders also claims Ford may end gas-powered sales before the 2030 deadline if demand in the market moves faster than expected (like it always has).

Electrek’s Take

To enter the EU market as fast and profitably as possible, Ford likely made the right decision to partner with VW in the first place to use the automaker’s MEB platform.

However, Ford building its own EV platform makes a lot more sense to remain competitive in the future. The company can scale the technology and use it for a variety of models rather than limiting itself to using a rival’s architecture.

Although nothing is set in stone yet, Sanders mentioning Ford expects to launch EVs on its own “in-house system,” which Ford is engineering in the US, seems like that’s the direction the company is taking.

To compete with Tesla and General Motors, both of which have their own EV systems, Ford is likely to trend in that direction. In November, Ford CEO Jim Farley told reporters Ford is “going back to our Model A” in reference to building its own components and bringing production back.

What do you guys think? Should Ford go in its own direction or stick with VW? We’ll update you when we hear more about Ford’s EV platform plans.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Saudi oil giant Aramco posts drop in full-year profit, slashes dividend

Published

on

By

Saudi oil giant Aramco posts drop in full-year profit, slashes dividend

Members of media chat before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. 

Hamad I Mohammed | Reuters

Saudi state oil producer Aramco reported on Tuesday a decline in net profit to $106.2 billion in 2024, down from $121.3 billion in 2023.

The company said it expects total dividends for 2025 of $85.4 billion — a significant fall from 2024’s total of $124.2 billion.

This comes as it cut its total payout for the fourth quarter. The oil giant said its base dividend for the final three months of the year would be increased to $21.1 billion, but its performance-linked payout would be just $200 million. This compares to a third-quarter base dividend of $20.3 billion and a performance-linked dividend of $10.8 billion.

Lower oil prices hit the company’s net profit last year as crude production around the world increased and demand slowed. The price of global benchmark Brent crude futures averaged $80 per barrel in 2024, $2 less than the 2023 average, according to the U.S. Energy Information Administration.

Aramco’s revenue fell to $436.6 billion in 2024, compared to $440.8 billion the year before.

Full-year total borrowings at the company were up, rising to $319.3 billion in 2024 from $290.14 billion during the previous year. The company’s net debt, however, decreased from $102.7 billion in 2023 to $78 billion in 2024.

This breaking news story is being updated.

Continue Reading

Environment

A dozen Tesla cars burned at store, arson is suspected amid global protests

Published

on

By

A dozen Tesla cars burned at store, arson is suspected amid global protests

A dozen Tesla vehicles burned at a store in Toulouse, France. Arson is suspected amid global protests and vandalism attacks against Tesla and Elon Musk.

Last night, a dozen Tesla vehicles burned down at Tesla’s retail and service location in Plaisance-du-Touch near Toulouse, France.

Firefighters arrived on the scene at around 4 a.m. and contained the fire to the vehicles. Eight of them were completely destroyed, and four were greatly damaged. The damages are estimated at over 700,000 euros.

According to the local news (translated from French), the police suspected arson as a hole was found in a fence, and threats had been made over the last few weeks. The Tesla location remained closed all day.

Advertisement – scroll for more content

Tesla is currently being protested by anti-fascist groups around the world, especially in the US, where many are targeting Tesla to protest against Elon Musk’s involvement in the US government.

In France, there were a few protests planned, but some extremist groups are calling for widespread arson against Tesla stores:

I won’t share the link to the article since it gives step-by-step instructions on how to burn down Tesla stores without getting caught, but the manifesto explains that they are going after Tesla as a “symbol of capitalism,” although they also list a dozen other reasons including the fact that they think it’s “doable and cheap.”

Electrek’s Take

This is getting nuts. It’s not only dangerous, but it’s also not super effective in achieving the goal they claim to want to achieve.

Have they never heard of insurance? Tesla is having issues selling cars right now. You are burning unsold inventory that they can then claim to their insurance.

Sure, it disrupts their operations for a short period of time, but it’s not worth it.

Their manifesto does say to avoid violence and not to target vehicles owned by individuals – though it doesn’t sound like a strict rule for them, but I think these people are likely going to end up in jail for having achieved nothing.

The protests and boycotts are going strong. You don’t need to burn cars to make yourself heard.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Ford F-150 Lightning sales have been falling for months: What’s going on with the EV pickup?

Published

on

By

Ford F-150 Lightning sales have been falling for months: What's going on with the EV pickup?

Is Ford’s electric pickup in trouble? Sales have been down for months, and February showed no relief. What’s going on with the Ford F-150 Lightning?

Ford F-150 Lightning sales drop again in February 2025

Ford’s US sales dropped by 9% last month. Although electrified vehicles, including EVs and hybrids, both notched double-digit growth, sales of Ford’s gas-powered (ICE) models, which accounted for over 85% of deliveries, fell nearly 13%.

Hybrids saw higher demand with sales up 27.5% to 15,357, while EV sales increased 15% to 7,326. The Mustang Mach-E was a bright spot with 3,312 models sold in February, up 13% from the prior year.

With 6,841 Mach-Es sold through the first three months of 2025, Ford’s electric crossover SUV remains a top-selling EV in the US.

Advertisement – scroll for more content

Ford’s electric pickup didn’t fare as well. F-150 Lightning Sales were down nearly 15% last month with only 2,199 units sold. Through March, Ford has sold 15% fewer Lightning models than it did at this time last year.

Ford-Lightning-sales
2024 Ford F-150 Lightning Platinum Black (Source: Ford)

Sales of the electric pickup have been slipping for months now. In the final three months of 2024, F-150 Lightning sales were down 10%.

The Lightning, alongside Rivian’s R1T, are no longer the only electric pickups on the market. Ford is facing new competition with the Tesla Cybertruck, Chevy Silverado EV, and GMC Sierra EV, arriving.

Ford-Lightning-sales
2024 Ford F-150 Lightning Flash (Source: Ford)

According to Cox Automotive, the Tesla Cybertruck slipped past the Lightning to become the fifth best-selling EV in the US last year with nearly 39,000 units sold. Ford’s Lightning was sixth with just over 33,500 models sold.

Ford extended its “Power Promise” promo earlier this year to boost demand, giving EV buyers a Level 2 home charger and other benefits, but Lightning sales are still down.

Ford-lightning-sales
Ford Mustang Mach-E (left) and F-150 Lightning (right) (Source: Ford)

The American automaker cut Lightning production at its Rouge Electric Vehicle Center last year, citing slower-than-expected demand. A new report from Automotive News claims Ford is now ending a pilot program to stock and distribute EVs through regional hubs after it failed to catch on. It was designed to speed up deliveries.

Although Ford plans to launch a smaller midsize electric pickup, it won’t arrive until at least two more years. With new competition, like the Ram 1500 REV and Volkswagen Scout pickup, hitting the market over the next few years, Ford may find it even harder to attract buyers.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending