Ford will inject up to €4.4bn of new capital to keep its debt-ridden German subsidiary afloat as the US group warned of more “tough decisions” ahead as it tries to revive its flagging car business in Europe.
In an interview, vice-chair John Lawler said Ford would not pull out of its European business but called on Brussels and Germany to do more to accelerate the transition to electric vehicles and lower costs to compete against Chinese rivals.
“I don’t think we should be defeatist,” Lawler told the Financial Times. “We should set a path and figure out how we’re going to make this viable, and that’s what we’re intending to do.”
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