(Reuters) - Ford Motor Co said on Tuesday it expects overall and North American automotive business pretax results to break even or be profitable in 2011.
Highlights:
* Says submits business plan to Congress
* Says plans electric vehicles
* Says will sell its corporate aircraft as part of overall cash improvement
plan
* Says asking for access to up to $9 billion of bridge financing
* Says does not anticipate a liquidity crisis next year, barring a bankruptcy
of one of its domestic rivals * Says hopes to complete its transformation without accessing government loan
* Says company plans call for investment of about $14 billion in the US on
advanced technologies and products for fuel efficiency over next seven years
* Says in discussions with UAW to further reduce cost structure
* Says to provide more details on electrification of vehicles at Detroit auto
show
* Says CEO Mulally would work for $1/yr salary if Ford does access funds
* Says canceling all 2009 bonuses for management worldwide, bonuses for all
employees in North America
* CEO Mulally says government loans to serve as 'critical backstop'
* Says to continue to reduce its dealer and supplier base, estimates it will
have 3,790 dealers by end of 2008
(Reporting by David Bailey, Poornima Gupta and Soyoung Kim)
