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Ford posts record pre-tax Q3 profit of $2.6B

Ford took in $2.6 billion in pre-tax profits in the third quarter of the year, making for a record trio of months that saw the Blue Oval's year-over-year earnings increase by $426 million. The earnings are being attributed not just to improvements in North American sales, but sales around the globe.
Revenue was up 12 percent, to $36 billion, although net income took a hit, dropping $359 million to $1.3 billion. Ford was dinged with $498 million in pre-tax charges, which are being blamed for the drop in net income.
The news has boosted Ford's hopes for full-year results, bumping it's total profits up past $8 billion, according to Automotive News. The Dearborn, MI-based manufacturer is still expecting a loss in Europe, although it's forecasted less than the $1.73 billion it burned in 2012. In fact, according to CFO Bob Shanks, Ford's European losses dropped by 51 percent year-over year, a huge improvement for the brand.

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 also opening up EV, hybrid patents, with a price tag

Like Tesla and Toyota before it, Ford is seeing the light when it comes to freeing up alternative powertrain patents. Of course, the Blue Oval does things differently, so free doesn't mean no cost. Instead of making its electric vehicle patents simply available to anyone, Ford is going to sell off its EV tech for an unspecified fee. Ford says it has 650 electrified vehicle patents and another 1,000 or so pending EV tech patent applications. Ford filed 400 such applications last year alone. To buy these patents, interested parties should contact Ford's technology commercialization and licensing office or work AutoHarvest. Or, you know, you could just go get Tesla patents for free. The jury is still out on whether these open patent programs are being used. The Tesla program, for example, didn't seem to be all that exciting to most OEMs right after it was announced. Ford has six vehicles with some sort of electrified powertrain: the Focus Electric, Fusion Hybrid and Energi PHEV, Ford C-MAX Hybrid and Energi plug-in hybrid and the Lincoln MKZ Hybrid. The only full EV in that group, the Focus Electric, starts at $29,995. Ford Opens Portfolio of Patented Technologies to Competitors to Accelerate Industry-Wide Electrified Vehicle Development Ford is opening its portfolio of electrified vehicle technology patents to competitive automakers to accelerate industry-wide research and development of electrified vehicles In 2014, Ford filed for 400-plus electrified vehicle patents – more than 20 percent of the total patents the company applied for last year Ford is set to hire an additional 200 electrified vehicle engineers this year as the team moves into a newly dedicated facility – Ford Engineering Laboratories – home to Henry Ford's first laboratories DEARBORN, Mich., May 28, 2015 – Ford Motor Company is offering competitors access to its electrified vehicle technology patents – a move to help accelerate industry-wide research and development of electrified vehicles. In 2014, Ford filed more than 400 patents dedicated to electrified vehicle technologies. This is more than 20 percent of the patents the company filed – totaling more than 2,000 applications. "Innovation is our goal," said Kevin Layden, director, Ford Electrification Programs. "The way to provide the best technology is through constant development and progress.