The growing Ford business crisis in Brazil stems from its attempts to shore up its balance sheet with its latest reorganization that ceases all manufacturing in Brazil.
Ford Motor management is standing at an intersection of survival and extinction in the international auto business. It’s attempting to eliminate losing operations in the face of a long heritage of local operations, customs and traditions that predate and overlook the globalization, disruption and perils that the company is facing. It’s a risky political challenge as well.
With the exception of North America and Europe, Ford’s automobile businesses lost money during Q4 and Full Year 2020 in every other major region – including China where the economy is thriving. Ford Motor earnings before interest and taxes (EBIT) are slight at 4.9% or when adjusted a paltry 2.2%.
In money-losing South America there is a governmental history of graft and corruption, economic catastrophes and failed financial and fiscal policies – among other factors at play. The brew distilling there appears to be 151-proof toxic. The outcome is a potential drunk-driving multi-car collision that will leave smoldering businesses and tragically ruined lives and careers. This is all playing out against a backdrop of a new potent Corona virus variant in Brazil that infects vaccinated people, and an ongoing public health disaster. Deaths have surpassed 250,000 in Brazil. It is the world’s second-highest mortality tally after the U.S. Continue reading →
World’s First Electric Bentleys to be Built by Lunaz
Just bring tons of pounds – prices start at £350,000, excluding local taxes.
Lunaz will commence full production of the world’s first electric Bentleys by converting vehicles to electric powertrains. The most recently completed car is a 1961 Bentley S3 Continental Flying Spur by H.J Mulliner. Lunaz claims it demonstrates the breadth of possibilities through collaboration between a Lunaz customer and the company’s design team, with the car in a contrasting two-tone exterior paint configuration. It uses a proprietary modular electric powertrain that can and will be applied to wider applications.
Lunaz, an electric vehicle engineering company and creator of electric classic cars, says it will increase its global manufacturing headquarters by 500% in the Spring of 2021. The company will go from its current 8,000 sq/ft facility to a 40,000 sq/ft engineering, design and manufacturing center adjacent to its current home. This will be the largest occupied manufacturing space within the Silverstone Technology Cluster in Britain’s advanced engineering heartland. Continue reading →