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Ford Motor Co. is aiming to cut its borrowing costs by more than half as it repurchases $5 billion in junk-rated debt and seeks to set a path to return to an investment-grade credit rating.

Ford Motor Co.’s shares have climbed steeply over the past couple of months, pushing them to levels last seen when Alan Mulally — the former CEO who is often called the company’s savior — was at the wheel.

LONDON — Ford Motor Co. plans to spend up to $315 million to turn a transmission factory in northwest England into a plant that will make electric power units for cars and trucks sold throughout Europe.

In the single largest manufacturing investment in its 118-year-history, Ford Motor Co. on Sept. 27 said it and a partner will invest $11.4 billion and create 11,000 new jobs to build electric vehicles and batteries at two new sprawling campuses in Tennessee and Kentucky.

Ford Motor Co. is spending $250 million to expand its new factory producing the battery-powered F-150 Lightning as demand surges for the pickup truck, which goes on sale next year.

DETROIT — The global shortage of computer chips is getting worse, forcing automakers to temporarily close factories including those that build popular pickup trucks..

General Motors Co. is suing its competitor Ford Motor Co. for violating a trademarked driver-assist technology that’s used for hands-free features, according to a lawsuit.

Ford’s second-quarter outlook is improving, with large numbers of customers making reservations for four of its new vehicles.

Commercial buyers will be among the fastest adopters of electric pickup trucks like the Ford F-150 Lightning that will go on sale next year, according to industry analysts.

Ford expects 40% of its global sales to be battery-electric vehicles by 2030 as it adds billions to what it’s spending to develop them.