FORD MOTOR CO (F) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that FORD MOTOR CO surfaced in its latest filing.

• Ford entered into a consent order with NHTSA in 2024, requiring an independent third party selected by NHTSA to assess adherence and report to NHTSA.2024
• Approximately 3.5 million Takata desiccated airbag inflators are in Ford vehicles, part of a NHTSA study of 56 million inflators in the U.S.
• Ford has 2.5 million vehicles within a population of 52 million containing ARC Automotive and Delphi Automotive inflators under NHTSA consideration.
• In 2025, Ford's production was disrupted by fires at one of its major aluminum suppliers, with ongoing effects.2025
• Ford has entered into offtake agreements and long-term purchase contracts obligating it to purchase a certain percentage or minimum amount of output from certain raw materials suppliers, subject to conditions like quality or minimum output.
• China's restriction on the export of rare earth minerals has impacted and caused disruptions in Ford's production operations.
• Ford announced new battery energy storage business in Q4 2025.Q4 2025
• In December 2025, Ford announced updated EV strategy.December 2025
• Ford expects disposition of investment in BlueOval SK, LLC.
• Ford has entered into multi-year offtake agreements and other long-term purchase contracts for raw materials such as lithium, cobalt, and nickel.
• Ford has incurred and may continue to incur charges from not meeting purchase obligations under raw material offtake agreements.
• U.S. government has implemented limited tariff relief with refunds subject to periodic approval by the Department of Commerce.
• Ford has set interim emissions targets approved by the Science Based Targets initiative (SBTi) and is reassessing its near-term decarbonization strategy.
• U.S. federal tax incentives for plug-in vehicle purchasers established in 2022 were eliminated in 2025, ending credits up to $7,500 per vehicle.2025
• The 2025 legislation preserved the advanced manufacturing production tax credit for domestic battery and component manufacturing but imposed 'prohibited foreign entities' criteria.2025
• In Brazil, the federal government has levied assessments concerning federal incentives Ford previously received, and the State of São Paulo has challenged tax incentives granted to Ford by the State of Bahia.
• Ford has responded to information requests from NHTSA and the National Transportation Safety Board about its BlueCruise system.
• In 2025, federal legislation, currently subject to challenge, eliminated the authority of California and other states to implement and enforce most of their emissions standards and ZEV sales requirements.2025