President Trump says automakers won’t recover EV costs
Todd Spangler of the Detroit Free Press asked President Trump whether money spent on automakers to meet Biden-era EV policies would be reimbursed.
- Ford was ranked first and GM was ranked seventh.
- The ranking took into account a company’s commercial success and its role in shaping culture and society.
Ford Motor Co. and General Motors Co. topped Time magazine’s list of America’s Most Iconic Companies, released Jan. 8 to coincide with the nation’s 250th anniversary, with Ford named the company at the top.
The honor comes as two Detroit automakers have been forced to make significant changes to their business strategies in recent weeks in response to policy changes from Washington, D.C. and lower-than-expected demand for electric vehicles.
But in an article listing the top 101 iconic companies, Time magazine said it was looking for companies that were financially successful and had an impact on a country’s culture. The magazine said that over the past 250 years, the United States has become “a globally relevant incubator of companies and brands, and an economic powerhouse.”
To showcase that tradition, Time and Statista conducted a nationally representative survey of U.S. residents to rank 250 U.S. companies. According to the Times article, the rankings took into account not only a company’s commercial success, but also the important role it plays in shaping culture and society.
The list includes many companies founded just 30 years after the country’s own founding, such as Colgate-Palmolive in 1806, and also companies founded in the 21st century, such as OpenAI in 2015.
But in first place was Ford, which Time described as a company that “has long aligned its brand with American identity.”
Founded in 1903, Ford is credited with founder Henry Ford perfecting the use of the assembly line, thereby lowering production costs and putting America on track. He famously paid his employees enough to buy their own cars. Ford also created a modern distribution system known as a regionally based dealer franchise system.
“Ford transformed manufacturing processes and transportation for average Americans, reshaping the development of cities and suburbs,” Time wrote.
Ford is at a critical juncture as it prepares $19.5 billion to shift its business strategy to add more hybrid and gasoline models to its lineup and reduce its focus on electric vehicles, while continuing to make its cars more affordable. In addition to EV batteries, Ford is also moving into a new business area: manufacturing battery energy storage systems.
Ford Executive Chairman Bill Ford told Time magazine that the review is a commitment to the future.
“Just as my great-grandfather gave the world wheels to give people freedom of movement, our approach to modern times is rooted in the same spirit,” he said. “Innovation is not just about building batteries and technology for its own sake, it’s about making people’s lives better.”
After Ford, Apple is in second place, followed by Coca-Cola, followed by Walmart, Amazon, and McDonald’s, and in seventh place is GM.
GM, founded in Flint in 1908 by William C. Durant, is the largest automaker by annual sales. A GM spokesperson said the company does not comment on nominations to the list.
Like Ford, GM is rethinking its business in response to changes in the market and federal policy. The company announced on January 8 that it will take a $7.1 billion hit to its net income in the fourth quarter of 2025 related to changes in EV production and business restructuring in China.
GM topped Microsoft, followed by Google and Nike in the top 10.
Jamie L. Lareau is senior auto writer for USA Today and covers Ford Motor Company for the Detroit Free Press. Contact Jamie at jlareau@freepress.com. Follow her on Twitter @jalaroan. To sign up for our automotive newsletter. become a subscriber.
