Ineos want to manufacture in US

FT article this morning

Ineos Automotive is searching for sites to move production of its flagship 4x4 vehicle from France to the US, as its billionaire owner Sir Jim Ratcliffe continues to pump cash into the struggling carmaker.

Chief executive Lynn Calder told the Financial Times the group aimed to start producing its Grenadier off-roader in America “as quickly as possible” to meet local demand.

Client Challenge

 

[Baron von Teuchter]

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[landmannnn]

Sounds a sensible approach. It also applies pressure to the EU where they are effectively destroying car manufacturing.

 

[Baron von Teuchter]

Sounds a sensible approach. It also applies pressure to the EU where they are effectively destroying car manufacturing.

100%

 

[HereinDaRockies]

EU lol terrible policy makers

https://twitter.com/x/status/1974102445648384395

View: https://x.com/villigm/status/1974102445648384395?s=46&t=PmzPZalfXoTPZB3Nuc1ylw

 

[AWo]

Ummm, on LInkedIn Ineos Automotive wrote they lost €30mn, FT wrote $290mn in 2024....that is quite a difference, isn't it? Also, on LinkedIn they told everything goes in the right direction, they are strong blablabla...and they told FT they'd rather go to the US.

I see some challenges for Ineos Automotive here...moving to the US is costly and chemical business units do not have money, actually. Looking at other caf brands, they all took their specialists from their home country to the US to build the production facilities (The CEO of Ford Jim Farley stated a few days ago, that he sees a real crisis in missing specialist who can build car plants in the US, so he understands why Hyundai brought over their own staff).
Ineos haven't done such a thing, yet (again something where they are newbies). The last time this has become visible was the ICE raid at Huyndai. So who are the specialists Ineos takes to the US and who wants to go, always facing the thread of being arrested. IMHO the only chance is take over an existing facility and that also means there is a lot to do....and pay.

However, at least FT confirmed what I was writing here already and what was questioned all the time...Ineos Automotive has only survived because the chemical business pumped a massive amount of money into Automotive. All in all, reading the FT article, Ineos Chemicals pumped $3bn to Automotive and they borrowed $232mn from banks, while downrated to a high risk level. Sounds solid....

AWo

 

[Tazzieman]

Cue LS V8 , Dana and huge, beautiful cupholders.
Big Don will insist.

 

[Baron von Teuchter]

Cue LS V8 , Dana and huge, beautiful cupholders.
Big Don will insist.

Thank you for your attention to this matter

 

[Tazzieman]

Thank you for your attention to this matter

I will now go and lose some weight.

 

[HereinDaRockies]

Ummm, on LInkedIn Ineos Automotive wrote they lost €30mn, FT wrote $290mn in 2024....that is quite a difference, isn't it? Also, on LinkedIn they told everything goes in the right direction, they are strong blablabla...and they told FT they'd rather go to the US.

I see some challenges for Ineos Automotive here...moving to the US is costly and chemical business units do not have money, actually. Looking at other caf brands, they all took their specialists from their home country to the US to build the production facilities (The CEO of Ford Jim Farley stated a few days ago, that he sees a real crisis in missing specialist who can build car plants in the US, so he understands why Hyundai brought over their own staff).
Ineos haven't done such a thing, yet (again something where they are newbies). The last time this has become visible was the ICE raid at Huyndai. So who are the specialists Ineos takes to the US and who wants to go, always facing the thread of being arrested. IMHO the only chance is take over an existing facility and that also means there is a lot to do....and pay.

However, at least FT confirmed what I was writing here already and what was questioned all the time...Ineos Automotive has only survived because the chemical business pumped a massive amount of money into Automotive. All in all, reading the FT article, Ineos Chemicals pumped $3bn to Automotive and they borrowed $232mn from banks, while downrated to a high risk level. Sounds solid....

AWo

Well of course IA would be in debt lol. Immense capital expense to start with. Who thought they would immediately be in the black?

 

[Gasguzzler]

This would be a phenomenal move for the company.