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Recharge Wrap-up: California breaks ground on high-speed rail, Ford launches global mobility experiments

California has celebrated the groundbreaking of the country's first high-speed rail system. The ceremony took place in Fresno, in the San Joaquin Valley, situated along the line's initial route through California's Central Valley. The train will travel at speeds of up to 220 miles per hour, delivering passengers from San Francisco to LA in less than three hours when finished by 2029. California eventually plans to extend high-speed rail service north to Sacramento and south to San Diego, with a total of 24 stations. The project is expected to cost a total of $68 billion, but could potentially ease road and air traffic, as well as the pollution that comes with it. See the groundbreaking ceremony in the video below, and read more at Engadget or the California High-Speed Rail Authority website. Elon Musk (barely) commented on the Tesla Model 3 during his Reddit AMA. A commenter asked for any new information on the upcoming electric sedan, to which Musk merely replied, "It won't look like other cars." Unfortunately for Tesla fans, the lone comment was the only reference to the electric automaker Musk leads as CEO. The event was full of some really cool space talk, though. Musk also noted he gets an average of six hours of sleep per night, and that showering is the daily habit that impacts his life the most positively. Read the entire AMA at Reddit. Ford outlined its Smart Mobility Plan at the 2015 Consumer Electronics Show in Las Vegas. It includes 25 global mobility experiments designed to provide insights into the future of transportation needs around the world. "We see a world where vehicles talk to one another, drivers and vehicles communicate with the city infrastructure to relieve congestion, and people routinely share vehicles or multiple forms of transportation for their daily commute," says Ford President and CEO Mark Fields. The mobility experiments include carsharing programs in Michigan, London, Germany and India, a fast-charging infrastructure experiment, a shuttle service in New York and London and even a cycling focused data program in Palo Alto. Read more at Ford's website. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. "Our priority is not in making marketing claims or being in a race for the first autonomous car on the road," Fields said. "Our priority is in making the first Ford autonomous vehicle accessible to the masses and truly enhancing customers' lives.

Ford 2Q profit drops 86% as it restructures overseas

DEARBORN, Mich. (AP) — Ford's net profit tumbled 86% in the second quarter due largely to restructuring costs in Europe and South America. Net income for the April-through-June period dropped to $148 million, or 4 cents per share. Without the charges the company made 28 cents per share. Revenue was flat at $38.9 billion. On average, analysts surveyed by FactSet expected earnings 31 cents per share on revenue of $38.49 billion. Chief Financial Officer Tim Stone says the company had charges of $1.2 billion as it moved to close factories in Europe and South America. He says Ford already is seeing an impact from its global fitness measures that included a reduction of 7,000 white-collar workers. Ford, which released numbers after the markets closed Wednesday, says its results include a $181 million valuation loss on an investment in a software company, trimming 4 cents off adjusted earnings per share. Its stock fell 6.3% in after-hours trading to $9.68. Stone said Ford is in the early stages of its restructuring, but already is seeing improvement in some regions. Free cash flow also improved by 80% to $2.1 billion in the first half of the year, he said. "We're already starting to see some early benefits," he said. "A lot of work to do." The company expects improvement in the second half of the year as more new big SUVs hit dealerships and more of the restructuring takes hold. Ford on Wednesday forecast pretax adjusted earnings of $7 billion to $7.5 billion for all of 2019, compared with $7 billion last year. The company previously had only said that pretax earnings would improve. Full-year adjusted earnings per share are forecast to be $1.20 to $1.35, up from $1.30 in 2018. Previously it did not give per-share guidance. Ford's U.S. sales fell nearly 5% in the second quarter, according to the Edmunds.com auto pricing site, as the company exited most of its passenger car business. But Stone said sales of the new Ford Ranger small pickup offset much of that as its share of the small truck segment rose 14%. Edmunds, which provides content for The Associated Press, said Ford's average vehicle sale price rose 2.8% to $41,328 during the quarter. In North America, Ford's biggest profit center, pretax earnings fell 3% to just under $1.7 billion, which the company blamed on switching its Chicago factory to build new versions of midsize SUVs.

2015 Ford Mustang to offer solid-rear axle, sort of

One of the biggest knocks against the last Ford Mustang was its solid-rear axle. Not one to actively court criticism, Ford dutifully swapped out the old-fashioned rear end for something a bit more modern in the redesigned 2015 Mustang, adding an independent rear suspension across the board.
While an IRS Mustang is great news for those that value handling and ride comfort, there's one big group that it's bad news for - drag racers. See, a solid-rear axle is a big deal for drag racers, because not only is it more durable and cheaper, but it's better for the hard launches that can make or break a race.
To satiate this vocal demographic, Ford will sell a body-in-white version of the Stang, complete with a nine-inch rear axle, that will debut at the 2014 Performance Racing Industry show. The news came from gas2.org, which cited an unnamed employee of Ford Racing at this year's PRI show.