Ford to run EV, internal combustion divisions separately

Ford has already charged into the development of electric vehicles with the Ford GT, Mustang Mach-E SUV and F-150 Lightning pickup. ford also operates an EV division in China.

On Wednesday, Ford said that it now expects that half of its vehicles to be electric by 2030. Less than a year ago, the company announced a goal of going by then. It also said that it will produce more than 2 million electric vehicles annually by 2026, representing about a third of its global volume.

Ford Blue will provide hardware engineering and manufacturing capabilities for the entire company. Ford Model e will develop software and connected vehicle technologies and services. Ford anticipates spending $5 billion on electric vehicles this year, including capital expenditures, expense and direct investments.

Farley, in addition to heading Ford Model e, will continue as CEO of Ford Motor Co. The president of Ford’s Americas & International Markets Group, “We are going to be hyper-competitive on costs and make quality a reason to choose Ford,” Galhotra said. “And by doing all that, Ford Blue will be an engine of cash and profitability for the whole company.”Copyright 2022 The Associated Press. All rights reserved.

Well when the e cars fail it won't hurt your main companies bottom line.

Energy Energy Latest News, Energy Energy Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ford splits business into separate EV and combustion units | EngadgetFord has split its car business into separate EV and ICE units in hopes of better competing against electric-only rivals like Tesla.. So they’re pulling a Mercedes’ EQ? With this new line of cars or a legitimate different business and stock?
Source: engadget - 🏆 276. / 63 Read more »

The Rise & Rise of the Chinese EV Market — 17% Market Share in JanuaryAfter the December sales peak, one would expect a sales hangover in January, only ... it didn't happened, as the market had some 372,000 passenger new energy vehicle registrations, an impressive 115% jump year over Do you think 20% of Chinese auto-buyers will choose EVs this year? what are the Distribution/ Sales outlets globally, by nation?
Source: cleantechnica - 🏆 565. / 51 Read more »

Biden: Revive EV, clean-energy incentives to help control inflation, save families $500 a yearState of the Union: Biden says American families could save $500 a year in energy costs through tax credits to weatherize their homes, as well as incentives to buy electric vehicles and turn to alternative energy. Buy a $50k electric car and install $15k solar panels on your roof and you will save $500!!! WOW!! Thank you!!
Source: MarketWatch - 🏆 3. / 97 Read more »