Ford announced plans to run its electric vehicle and internal combustion divisions as two distinct businesses, according to a news release by Ford on Wednesday.
- The automaker stated that its plan will form two separate, but strategically interdependent, auto businesses.
- Ford Blue will focus on traditional combustion engines and Ford Model e, focusing on developing electric vehicles.
- Jim Farley CEO of Ford stated that the company was creating separate but complementary businesses that give start-up speed and unrestricted innovation in Ford Model e alongside Ford Blue’s industrial expertise, volume and iconic brands.
- The company will accelerate Ford+ plan to unlock growth potential and generate value for the shareholders.
Ford reaffirms the outlook for 2022 of $11.5 billion to $12.5 billion in company-adjusted EBIT. The high end of the range is equivalent to a margin of 8%. F up +4.91%, Pre-market trading