12 unchanged sentences
We and the entities that we consolidated as of December 31, 2024 use over 375 operations facilities globally, including testing and prototype, across 24 countries, and 41 manufacturing and assembly plants, which includes plants that are operated by us or our consolidated joint venture that support our Ford Blue, Ford Model e, and Ford Pro segments.
−Removed: We have one significant consolidated joint venture, which is in our Ford Blue segment:
+Added: We have one consolidated joint venture with manufacturing operations, which is in our Ford Blue segment:
• Ford Vietnam Limited — a joint venture between Ford (75% partner) and Diesel Song Cong One Member Limited Liability Company (a subsidiary of the Vietnam Engine and Agricultural Machinery Corporation, which, in turn, is majority owned (87.43%) by the State of Vietnam represented by the Ministry of Industry and Trade) (25% partner).
7 unchanged sentences
• BlueOval SK, LLC — a 50/50 joint venture among Ford, SK On Co., Ltd., and SK Battery America, Inc.
−Removed: (a wholly owned subsidiary of SK On) that will build and operate electric vehicle battery plants in Tennessee and Kentucky to supply batteries to Ford and Ford affiliates.
+Added: (a wholly owned subsidiary of SK On) that is building and will operate electric vehicle battery plants in Tennessee and Kentucky to supply batteries to Ford and Ford affiliates.
• Changan Ford Automobile Corporation, Ltd.
(“CAF”) — a 50/50 joint venture between Ford and Chongqing Changan Automobile Co., Ltd.
−Removed: CAF operates four assembly plants, an engine plant, and a transmission plant in China where it produces and distributes a variety of Ford passenger vehicle models.
+Added: CAF operates four assembly plants, an engine plant, and a transmission plant in China where it produces and distributes a variety of Ford and Lincoln brand passenger vehicle models.
• Ford Otomotiv Sanayi Anonim Sirketi (“Ford Otosan”) — a joint venture in Türkiye among Ford (41% partner), the Koc Group of Türkiye (41% partner), and public investors (18%) that is the sole supplier to us of the Transit, Transit Custom, and Transit Courier commercial vehicles and the Puma for Europe and the sole distributor of Ford vehicles in Türkiye.
1 unchanged sentence
The joint venture owns three plants, a parts distribution depot, and a research and development center in Türkiye, and a combined vehicle and engine plant in Romania.
+Added: Properties (Continued)
• JMC — a publicly-traded company in China with Ford (32% shareholder) and Nanchang Jiangling Investment Co., Ltd.
3 unchanged sentences
The public investors in JMC own 27% of its total outstanding shares.
−Removed: JMC assembles Ford Transit, a series of Ford SUVs, Ford engines, and non-Ford vehicles and engines for distribution in China and in other export markets.
+Added: JMC assembles Ford Transit, Ford Ranger, a series of Ford SUVs, Ford engines, and non-Ford vehicles and engines for distribution in China and, for certain products, other export markets.
JMC operates two assembly plants and one engine plant in Nanchang.
−Removed: Properties (Continued)
The facilities described above are, in the opinion of management, suitable and adequate for the manufacture and assembly of our and our joint ventures’ products.
18 unchanged sentences
We filed post-trial motions seeking a new trial, and on September 14, 2023, the trial court denied our post-trial motions.
−Removed: On October 13, 2023, Ford filed a notice of appeal with the Georgia Court of Appeals.
−Removed: We believe the law supports our position that Ford is entitled to a new trial with the right to present evidence in its defense.
+Added: On October 13, 2023, Ford filed a notice of appeal with the Georgia Court of Appeals, and on November 1, 2024, the Georgia Court of Appeals vacated the trial court’s judgment and remanded the matter for a new trial.
+Added: On November 7, 2024, the plaintiffs filed their notice of intent to petition the Georgia Supreme Court for a writ of certiorari, and on December 19, 2024, the plaintiffs filed their petition with the Georgia Supreme Court.
+Added: Ford filed its response to the petition on February 5, 2025.
ASBESTOS MATTERS
3 unchanged sentences
We believe that we are targeted more aggressively in asbestos suits because many previously targeted companies have filed for bankruptcy or emerged from bankruptcy relieved of liability for such claims.
+Added: Legal Proceedings (Continued)
Most of the asbestos litigation we face involves individuals who claim to have worked on the brakes of our vehicles.
6 unchanged sentences
Our accrual for asbestos matters includes probable losses for both asserted and unasserted claims.
−Removed: Legal Proceedings (Continued)
CONSUMER MATTERS
2 unchanged sentences
Pursuant to these warranties, we will repair, replace, or adjust parts on a vehicle that are defective in factory-supplied materials or workmanship during the specified warranty period.
+Added: Software updates are increasingly a component of vehicle service and may be performed during warranty coverage repairs, through field service actions, or through over-the-air updates.
We are a defendant in numerous actions in state and federal courts alleging breach of warranty and claiming damages based on state and federal consumer protection laws.
2 unchanged sentences
Remedies for a fraud claim may include contract rescission, vehicle repurchase, and punitive damages.
+Added: Annual payout and defense costs may become significant in the future.
The cost of these litigation matters is included in our warranty costs.
13 unchanged sentences
At this time, we have no such class actions filed against us.
−Removed: OTHER MATTERS
−Removed: Brazilian Tax Matters.
−Removed: One Brazilian state (São Paulo) and the Brazilian federal tax authority currently have outstanding substantial tax assessments against Ford Motor Company Brasil Ltda.
−Removed: (“Ford Brazil”) related to state and federal tax incentives Ford Brazil received for its operations in the Brazilian state of Bahia.
−Removed: The São Paulo assessment is part of a broader conflict among various states in Brazil.
−Removed: The federal legislature enacted laws designed to encourage the states to end that conflict, and in 2017 the states reached an agreement on a framework for resolution.
−Removed: Ford Brazil continues to pursue a resolution under the framework and expects the amount of any remaining assessments by the states to be resolved under that framework.
−Removed: The federal assessments are outside the scope of the legislation.
−Removed: All of the outstanding assessments have been appealed to the relevant administrative court of each jurisdiction.
−Removed: To proceed with an appeal within the judicial court system, an appellant may be required to post collateral.
−Removed: To date, we have not been required to post any collateral.
−Removed: If we are required to post collateral, which could be in excess of $1 billion, we expect it to be in the form of fixed assets, surety bonds, and/or letters of credit, but we may be required to post cash collateral.
−Removed: Although the ultimate resolution of these matters may take many years, we consider our overall risk of loss to be remote.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.