TU-TESL

• 22

According to the financial data previously released by the automobile company, the cash and short-term assets on the book of the company now add up to 37 billion US dollars (about 260.239 billion yuan). In the statistics of FactSet, the financial data company, Ford Motor Co., Ltd. and other giants such as apple and Microsoft were selected as the top 10 cash rich companies in the United States. But even so, the company is at risk of cash shortages. CNBC recently made a deal for Ford. First, Ford has previously announced a multi-year restructuring plan that will cost at least $7 billion (49.235 billion yuan) in advance, according to Bruce Clark, a bond analyst at Moody's investor services. Second, Ford will spend billions of dollars updating and iterating on its best-selling models. According to previous reports, Ford is redeveloping more profitable models and phasing out affordable cars that are no longer popular with consumers. The company is moving to replace 75% of its North American product lines by the end of 2020. In addition, the company will invest 11.5 billion US dollars (about 80.885 billion yuan) in electrification and R & D. Ford plans to launch seven electric vehicles by the end of 2020. In order to further accelerate the development of electric vehicles, Ford has also established a partnership with the automobile group. In the future, the company will use Volkswagen's MEB platform. Although Volkswagen has exempted the patent fee of the platform, it requires Ford to purchase the parts needed for electric vehicles from its own hands, and the fee will reach 100-2 US $0 billion (about 70.335-140.67 billion yuan). According to the above "bill", Ford's capital has been "split up" in advance. However, the auto manufacturing industry is a cash intensive business. According to bond analysts in the industry, in order to cope with the possible economic downturn at any time, Ford needs to maintain its cash balance of more than $20 billion (140 billion 670 million yuan), which is why Ford, with a huge capital of $37 billion (260 billion 239 million yuan), is still likely to face Cash shortage.