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Ford announced plans to invest $11 billion on changes to its core auto business in the coming years.
"The team is making the hard decisions to raise the returns of underperforming assets," said Chief Financial Officer Bob Shanks. "We will disposition the rest. This type of profound redesign will take time, and we will communicate as decisions are made."
The company provided few details about the planned changes.
Read more from CNNMoney.
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