Ford in talks with US government over potential defence projects, CEO says

US automaker Ford is in discussions with the US government over possible involvement in defence-related projects, company chief executive Jim Farley has said.

He added that the talks are at an early stage and cover several areas linked to defence manufacturing, though he did not provide further details, dpa reports.

Earlier reports indicated that US authorities are considering more active involvement of automakers, including General Motors, in the production of military equipment. In particular, the Pentagon is examining the use of their manufacturing capacity to replenish weapons stockpiles that have been depleted amid support for Ukraine and the conflict involving Iran.

Farley also noted that the company aims to help relocate key suppliers to the United States, primarily semiconductor and battery manufacturers. According to him, this could become Ford’s main contribution to strengthening the country’s industrial and defence base.

The company’s financial results exceeded expectations. Revenue rose by 6% to $43.3 billion. Operating profit reached $3.5 billion, significantly above the forecast of $1.3 billion. Net profit increased to $2.5 billion, compared to $500 million a year earlier.

However, the electric vehicle division remains unprofitable, with losses widening to $777 million.