Ford is determined to compete against electric vehicle rivals and is willing to reorganize the company to improve its chances. The brand is splitting its car manufacturing business into separate EV-only andICE divisions to help it fight both new EV competitors and conventional challengers. The electric unit, Model e, is meant to speed up large-scale development of EVs while producing connected vehicle technology for all of Ford. The EV-only competitors' cultures are fast and tech-driven.
The ICE division of Ford Blue will focus on attacking costs, improving quality and streamlining operations in order to turn a profit. The rest of the company will be supplied by Blue.
Jim Farley will be the president of Model e. Doug Field, who joined Ford in September 2021, will lead the unit's development as its Chief EV and Digital Systems Officer.
The split is part of a larger Ford+ strategy. Demand for Ford EV's like the Mach-E and F-150 Lightning has been strong, but it's still not enough to catch up with the dominance ofTesla in the US electric market. The move helps Ford catch up to or surpassTesla while keeping ICE cars viable until they are phased out.
This approach is similar to EV-focused strategy changes at some of the mainstream competitors. GM already plans to become EV-only by 2035, while Stellantis has a plan that will see EV sales lead sales in Europe and the US by the year 2030. Although it denied the claim,Hyundai was rumored to have stopped developing new engines. Ford doesn't want to be left behind in the electric car market.
All Rights Reserved © 2024
