Detroit, March 3, 2022 – Ford said that it will run its electric vehicle and internal combustion divisions as two separate businesses to accelerate its adaptation of new technology and the Detroit automaker said Wednesday that its shift to electric vehicles is accelerating.
Ford plans a major restructuring with two distinct but strategically interdependent auto businesses – Ford Blue focusing on traditional combustion engines and Ford Model e, which will develop electric vehicles.
“We are going all in, creating separate but complementary businesses that give us start-up speed and unbridled innovation in Ford Model e together with Ford Blue’s industrial know-how, volume and iconic brands like Bronco, that start-ups can only dream about,” said CEO Jim Farley, who will head the electric vehicle division.
A pair of EV start-ups, Lucid Group and Lordstown Motors, released disappointing production projections this week, highlighting how difficult it is to secure materials and scale up in the auto industry.
But Ford is also competing with EV heavyweight Tesla and another traditional automaker, General Motors, which is vowing an even faster transition to electric vehicles. GM went so far as to change its logo, with the ‘m’ in the logo underlined to look more like an electrical plug.
But Ford is also competing with EV heavyweight Tesla and another traditional automaker, General Motors, which is vowing an even faster transition to electric vehicles. GM went so far as to change its logo, with the ‘m’ in the logo underlined to look more like an electrical plug. – AP
