Fortescue Cuts Jobs and Sends EV Motor Manufacturing to China
Fortescue Metals, led by Andrew Forrest, is cutting hundreds of jobs in the UK and Australia as it shifts its focus to R&D and sends manufacturing to China.
The job cuts will affect Fortescue Zero and come as the company ramps up new technologies to reach its "real zero" target by 2030, aiming to burn no gas or diesel at its Pilbara iron ore operations.
- Up to 400 huge 240-tonne electric haul trucks will be needed to transport ore at its mines.
- Half of these trucks will be built by China's XCMG, as announced a few weeks ago.
The company aims to reach "real zero" by 2030, meaning it will burn no gas or diesel at its giant Pilbara iron ore operations by that date.
Author's summary: Fortescue cuts jobs and sends EV manufacturing to China.
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