Ford said to eliminate thousands of jobs to cut costs in the transition to electric Vehicles

Ford expects to present an update on its plans to switch to electric vehicles during a conference call on the morning of.

US automobile maker Ford is set to cut thousands of jobs in order to cut costs and accelerate its move to electric vehicles, US media reported on Wednesday.

The group is expected announce the cancellation of several thousand positions within the next few weeks, in The Wall Street Journal, which has cited sources close to the subject.

Workers at factories aren’t expected to suffer according to the report.

Asked by AFP The Ford spokesperson did not want to discuss “speculation”.

However, the group has set a conference call for Thursday for an update on the strategy to switch into electric vehicles.

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“Key Ford executives will provide details about how the firm is advancing its manufacturing system to achieve an annual production run rate of 600,000 electric vehicles and then more than 2 million EVs per year in worldwide in 2026,” the company stated in the statement.

“As we’ve stated many times, in order to bring about the Ford+ transformation , and to to lead an exciting and revolutionary new era of connected and electric vehicles, we’re changing the way we work and transforming our organizational structure across all the automotive business units as well as the entire organization,” the spokesperson said in his announcement.

“We’ve set clear goals to our pricing structure, so that we’re efficient and capable of competing with the top companies in the field.”

The company’s top executives also said they were looking to cut down on vehicles that are traditional to $3 billion (roughly about Rs. 24,000) each year.

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