Ford Motor Company
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The Ford Motor Company (commonly known as Ford, sometimes abbreviated as FoMoCo) is an American multinational automobile manufacturer headquartered in Dearborn, Michigan, United States. It was founded by Henry Ford and incorporated on June 16, 1903. The company sells automobiles and commercial vehicles under the Ford brand, and luxury cars under its Lincoln brand. The company is listed on the New York Stock Exchange under the single-letter ticker symbol F, and is controlled by the Ford family. They have minority ownership, but a plurality of the voting power. Ford introduced methods for large-scale manufacturing of cars and large-scale management of an industrial workforce using elaborately engineered manufacturing sequences typified by moving assembly lines. By 1914, these methods were known around the world, simply known as Fordism. Ford's former British subsidiaries Jaguar and Land Rover, acquired in 1989 and 2000, respectively. They were sold to the Indian automaker Tata Motors in March 2008. Ford owned the Swedish automaker Volvo from 1999 to 2010. In the third quarter of 2010, Ford discontinued the Mercury brand, under which it had marketed upscale cars in the United States, Canada, Mexico, and the Middle East since 1938. Ford is the second-largest American-based automaker, behind General Motors, and the sixth-largest in the world, with the biggest, being Toyota, the Volkswagen Group, Hyundai, Stellantis, and General Motors, based on 2022 vehicle production. The company went public in 1956 but the Ford family, through special Class B shares, retain 40 percent of the voting rights. During the 2008–2010 automotive industry crisis, the company struggled financially but did not have to be rescued by the federal government, unlike the other two major US automakers. Ford Motors has since returned to profitability, and was the eleventh-ranked overall American-based company in the 2018 Fortune 500 list, based on global revenues in 2017 of $156 billion. In 2023, Ford produced 4 million automobiles, and employed about 177,000 employees worldwide. The company operates joint ventures in China (Changan Ford and Jiangling Ford), Taiwan (Ford Lio Ho), Thailand (AutoAlliance Thailand), and Turkey (Ford Otosan). Ford owns a 32% stake in China's Jiangling Motors.