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Mike Mozart
The U.S. car manufacturer plans to dedicate €4.4 billion to assist Ford Werke in lowering its debt, which is around €5 billion, to a more manageable figure, according to Managing Director Marcus Wassenberg in an interview with Bloomberg.
Ford plans to allocate approximately €500 million over four years in an initiative to bring back profitability to Ford Werke, he added.
He conveyed assurance that the parent company will keep backing Ford Werke beyond the initial recovery phase, even with the chance of additional losses.
Four years ago, Ford declared its plan to restructure its European operations as part of a strategy to transition its range to electric vehicles by the decade's conclusion. The significant investment in electric vehicles, however, has not come to fruition, and the whole sector is experiencing declining demand.
source: dw.de
Ford plans to allocate approximately €500 million over four years in an initiative to bring back profitability to Ford Werke, he added.
He conveyed assurance that the parent company will keep backing Ford Werke beyond the initial recovery phase, even with the chance of additional losses.
Four years ago, Ford declared its plan to restructure its European operations as part of a strategy to transition its range to electric vehicles by the decade's conclusion. The significant investment in electric vehicles, however, has not come to fruition, and the whole sector is experiencing declining demand.
source: dw.de
