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Ford to fund future models with bid's money
By Yoann Besnard on 21 March 2008 | 
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Ford CEO Allan Mullally has announced at a conference that Ford will use the Jaguar and Land Rover money to fund new models instead of paying off some debts as initially thought.
Ford has set the ambitious plan to rejunevate 70% of its lineup over the next years and plans to use the money raised by the Jaguar and Land Rover bid. The money will also be used to increase its development process. “The proceeds will be invested on our quality and productivity and new product development, ” said Mullally.
The company also plans to improve its manufacturing process and reduce its current lineup to cut costs. The carmaker plans to launch the same model on several continents. After the new Fiesta expected to be sold in Europe, in the US and in China, Ford has decided to sell the next-generation Mondeo exactly under the same design in Europe and in the US. The expected savings of doing the same car should be around £150 million to £225 million in costs.