Reuters reported on Tuesday that though Ford was planning to separately run the two businesses, it would keep them under its corporate umbrella.
Car makers around the world, including General Motors and Volkswagen Group, are spending billions of dollars to electrify petrol models and introduce electric cars to fight for market share with Elon Musk's Tesla and a number of other electric-only start-ups.By separating the EV business into a separate unit, Ford would be setting the table for a possible spin-off down the road, industry officials said.
Ford CEO Jim Farley said last week that his management team believes the EV and ICE businesses are underperforming on earnings.
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