Market Chatter: Ford Motor Targets NATO Military Vehicle Sales With Ranger Trucks

MT Newswires Live

Sep 02

Ford Motor (F) plans to expand sales of Ranger pickup trucks for military use across NATO countries as it competes for a 2 billion pounds ($2.70 billion) contract to supply next-generation light mobility vehicles to the British Army, the Financial Times reported Wednesday.

The report quoted Ford's European chief Jim Baumbick as saying in an interview that there is a broader opportunity to develop military vehicles with common parts that can be shared across NATO allies, making fleets more interoperable.

Ford is partnering with General Dynamics Land Systems and UK engineering group Ricardo to bid for the UK Ministry of Defense program, which will replace aging Land Rover and Pinzgauer fleets, the report said.

A contract award is expected next spring, with the initial tranche valued at about 750 million pounds.

Ford did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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