Share price of Ford Motor Co. (F) climbed 1.2% to $16.59 on Friday after the automaker made announcements regarding its 2014 plans and displayed new technologies. Ford announced that 70% of its North American vehicles will have Auto Start-Stop by 2017. The automaker also displayed a test car featuring its obstacle-avoidance technology.
Further, Ford revealed that it intends to hire 11,000 workers in the U.S. and Asia to support the expected launch of 23 new models during 2014. The automaker will also open three new manufacturing facilities, two in Asia Pacific and one in South America.
The Auto Start-Stop system turns off the engine when a vehicle stops and restarts the vehicle instantly after releasing the brake pedal. This improves the fuel efficiency of the vehicle. On an average the new technology boosts fuel efficiency by 3.5%. Whereas, in heavy traffic situations fuel efficiency increases by 10%. Moreover, the technology helps reduce CO2 emissions.
Over the years, Ford has been implementing Auto Start-Stop in its electrified powertrain hybrid and plug-in hybrid offerings. The automaker projects sales volume of about 500,000 vehicles with Auto Start-Stop globally, by the end of the year. In U.S., Ford currently offers Auto Start-Stop in its 2014 Ford Fusion, equipped with 1.5-liter EcoBoost engine.
Moreover, Ford is set to launch the new 2014 Ford Fiesta, powered by a 1.0-liter EcoBoost engine and the Auto Start-Stop technology. It provides 45 mpg while driving on highways. According to the company, this is the highest highway rating among all non-hybrid gasoline vehicles in the U.S. market.
This fuel saving Auto Start-Stop technology will support the automaker in its Blueprint for Sustainability. Under this Blueprint Ford develops a range of new technologies to enhance the fuel performance of its vehicles.
Separately, Ford displayed its obstacle-avoidance technology in a test car. This feature warns the driver about any slow-moving objects or stationary obstacles in the path of the car. If the driver ignores the signal then the system automatically steers or applies the brakes to avoid any collision. This technology is another milestone in Ford’s Blueprint for Mobility. It helps in improving safety and hence reduces congestion.
Ford is one of the largest automobile producers in the world along with General Motors Co. (GM), Honda Motor Co., Ltd. (HMC) and Toyota Motor Corp. (TM). Currently, Ford has a Zacks Rank #2 (Buy).
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment