Ford Stock Rises on Friday: What You Need to Know – Ford Motor (NYSE:F)

Ford Motor Company F Shares are trading higher on Friday. There were several developments this week, including union organizing efforts at the Kentucky battery plant and general calls from the industry to the president-elect Donald Trump to receive important electric vehicle tax credits. Here’s what you need to know:

What you should know: Earlier this week, the United Auto Workers (UAW) announced that a large majority of workers at Ford’s BlueOval SK battery plant in Kentucky, a joint venture with SK On, have signed union authorization cards.

Employees cited pay and performance differences compared to unionized Ford employees as their main motivations. The UAW said BlueOval SK workers earn significantly less than their unionized counterparts. The starting wage is $21 an hour, compared to $26.32 for UAW production workers at Ford.

Additionally, a group representing major automakers including Ford called on the incoming Trump administration to maintain the $7,500 federal tax credit for electric vehicle purchases and support self-driving car technologies. The group also raised concerns about emissions regulations and possible revisions to regulations requiring automatic emergency braking systems. This lobbying effort potentially underscores the auto industry’s focus on maintaining momentum in electric and autonomous vehicle development while addressing regulatory challenges.

What else: On Wednesday, the company announced plans to cut about 4,000 jobs, or 14% of its European workforce, due to weak demand for electric vehicles and increasing competition. The layoffs, representing 2.3% of Ford’s global workforce, are expected to occur by the end of 2027. Ford’s European sales have fallen 17.9% this year, largely due to lower electric vehicle subsidies in markets such as Germany, adding to the company’s challenges in transitioning toward electric vehicles.

F price promotion: According to Benzinga Pro, shares of Ford Motor were up 3.56% at $11.18 at the time of writing.

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