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A spokesman for Airbus said it would not comment on the movements of its senior management or on details of the meeting, said to be taking place in a secured private location. Booming Chinese air travel is a major driver of record Western production of passenger jets, while China is preparing to showcase its own aerospace industry at an air show next month. Airbus earlier this year announced plans to increase the number of its best-selling A320-family medium-haul jets assembled at Tianjin from 4 a month to 6 a month by 2020, representing about a tenth of total A320 output.
A year ago it added a completion plant for A330 aircraft in Tianjin, hoping for a boost for its slow-selling A330neo model which gained European safety certification on Wednesday, However plans for a landmark sale of up to 180 jets during a visit to China by French President Emmanuel Macron in January fell through shortly after a perceived gaffe by two European envoys over China’s sensitive historical relationship with Japan, In June, industry sources said the two sides were once again in jet sale talks bolstered by the production increase and at the Farnborough Airshow a month later, Chinese interests were prada cufflinks price said to be behind a number of anonymous deals..
DEARBORN, Mich. (Reuters) - With its stock trading near a 6-year low late last month, Ford Motor Co (F.N) CEO Jim Hackett gathered the automaker’s top 300 executives near its headquarters in Michigan for a global leadership meeting. Hackett’s message: Ford must put in motion plans to restructure its business now in order to secure promised costs savings, Ford executives present at the meeting said. “We have clarity of purpose and now it’s time to take action,” Hackett told Reuters in an interview.
A key part of that plan to save money calls for Ford to deepen partnerships with other automakers around the world to share factory floor capacity and develop vehicles together, Ford executives told Reuters, Specifically, they said Ford is engaged in talks with Germany’s Volkswagen AG (VOWG_p.DE) and India’s Mahindra (MAHM.NS) about expanding product and technology alliances, With Volkswagen, discussions are focused on how to expand a commercial vehicle tie-up they previously announced to include collaboration in South America and Europe - where Ford is losing money - and co-develop other types of vehicles, according to a Volkswagen executive and two sources prada cufflinks price familiar with Ford’s thinking who asked not to be identified..
Pablo Di Si, chief executive for Volkswagen in Latin America, told Reuters the companies are studying a partnership in Brazil and the talks are “advancing positively,” although he did not expect an announcement until 2019. A VW spokesman declined further comment on the alliance discussions. An expanded alliance would give Volkswagen access to some of Ford’s most profitable vehicles, including the Transit commercial vans and Ranger compact pickup trucks, said the two sources. VW could also help Ford strengthen its money-losing South American and European operations by combining vehicle production in those markets, the sources said.
Separately, product sharing talks are underway with Mahindra & Mahindra, including using the Indian automaker as a benchmark to bring down supplier costs in the region, two other people familiar with Mahindra’s plans said, The first vehicle from the platform they are jointly developing will likely be launched in prada cufflinks price 2020, they added, A spokesman for Mahindra did not respond to a request for comment, The twin efforts are meant to help remake Ford in conjunction with the $11 billion restructuring it outlined for the next three to five years, Ford needs to improve profitability because it is investing billions of dollars to develop electric and self-driving vehicles, and gearing up for a major roll out of products over the next two years..
Graphic: tmsnrt.rs/2xKteeb. Hackett, who recently spoke with the heads of Volkswagen and Mahindra, told Reuters the alliance talks are going well and hold a lot of promise for Ford. He declined to comment on specific deal structures being discussed or locations, however. Broader product and cost-sharing deals with Volkswagen and Mahindra could allow the No. 2 U.S. automaker to reduce the number of different vehicles it builds and shrink engineering and purchasing costs, Ford executives said. Fewer vehicle architectures, combined with increased numbers of electric vehicles, would also help Ford reduce the number of plants and employees it needs for that work over the next several years, according to the two sources familiar with Ford’s thinking.
The moves are aimed to help Ford hit its goal of doubling global pre-tax profit margins to 8 percent by 2020, up from 4.3 percent in the prada cufflinks price second quarter of this year, Hackett remains under pressure to show results, The stock is down about 24 percent this year, “Hackett’s job really is to cut the costs,” said Edgar Wachenheim III, chairman of Greenhaven Associates, which is Ford’s ninth largest investor with almost 33 million shares at the end of June, “You have this possibility that Hackett can eliminate the $4.5 billion of losses (in its weaker operations) that were there in 2017 and the earnings will shoot up.”..