• We are currently looking for experienced automotive journalists and editors to join our team.  Make $60k-$80k per year doing what you love. We are also looking for an experienced forum moderator to join our team. See details here. ×

Ford Plans To Raise $2.8 Billion In Debt To Invest In New Tech

Sponsored Links

Ford Motor Company is planning to raise a sum of $2.8 billion in long-term debt in order to fund investments into emerging technologies, according to Reuters. Ford President of the Americas Joe Hinrichs says the list of technologies the automaker is looking to commit more support to includes autonomy, drivetrain electrification, and mobility services such as ride-sharing and ride-hailing.

“It’s an opportunistic time,” Hinrichs says. “It’s a supportive marketplace for long-term debt given where rates are, and we want to make sure that throughout the cycle of the industry we have the flexibility to do what we need to do and want to do, especially in the emerging part of the business.”

Ford has already filed with the Securities and Exchange Commission (SEC), seeking $1.5 billion in 10-year notes with a yield of 4.356 percent and $1.3 billion of 30-year notes at 5.291 percent. Automotive News says this is the first time in almost four years that Ford has sought to grow its automotive debt.

Sponsored Links

Last December, Ford announced plans to invest some $4.5 billion by 2020 into growing its portfolio of electrified vehicles – including conventional hybrids, plugins, and battery-electric vehicles. The automaker has also made clear its commitment to autonomous technology, and what it calls “Smart Mobility” – an umbrella term to describe new opportunities in providing transportation services – with a slew of new investments in tech firms and a plan to double its Silicon Valley staff.

Sponsored Links

Subscribe to Ford Authority
For around-the-clock Ford news coverage

We'll send you one email per day with the latest Ford updates.

It's totally free.

  • Want to see your Ford vehicle or build featured on Ford Authority? We welcome your submissions. See here for details. ×

Written by Aaron Brzozowski

Aaron Brzozowski is a writer and motoring enthusiast from Detroit with an affinity for '80s German steel. He is not active on the Twitter these days, but you may send him a courier pigeon.

Sponsored Links

Leave a Reply

Your email address will not be published. Required fields are marked *

Utterly Brilliant: What Makes The Ford GT’s Suspension Design Unique

Fifteen Thousand 2017 Ford F-150 Pickups With 10-Speeds Stockpiled For Testing