Ford CEO Farley explains why the brand isn't going all-electric like GM

The automaker has committed over $50 billion to electrify its lineup with new products and the factories needed to build them, but Ford CEO Jim Farley said it is also continuing to spend on future internal combustion engine models like the"We’re investing in ICE segments where we’re dominant and where we think, as competitors leave the segments, we can actually grow," Farley told FOX Business.

"I find it intriguing that we’re portraying the future of our industry as monolithic. That’s not how it goes. That’s not how it’s going to manifest itself.

"Not all segments will go to electric at the same time, and some may never," Farley said, specifically calling out the Heavy Duty truck classes that the F-Series Super Duty participates in. "If you’re towing a fifth-wheel trailer, or you have a bucket body on the back of a chassis cab Super Duty, an electric vehicle makes almost no sense," he said.

Ford CEO Jim Farley and Ford Executive Chairman Bill Ford helped unveil the 2024 Ford Mustang, which will not be offered with hybrid or electric powertrains.

'Look, we’ll do what’s required, and we’re going to grow our EV business to two million vehicles in four years”-Jim Farley. 64% CAGR. 😳 You go, Jim!

Trucks need to pull trailers…Ford will reap the rewards when GM leaves the truck market.

Because when all electric fails miserably they won’t be completely obliterated!

Because he knows better and knows going all EV will fail.

Ford 🥳SUCKS ! No all do respect Fords horrible

last i heard theres 200yrs of known oil supply

last i heard theres 200yr of know oil supply

Stupid to go all electric

Nobody wants electric vehicles.

TL;DR Guessing it's because he wants Ford to actually survive.

Maybe because they're smarter at Ford and not woke?

Thanks! I’m at least 10 years away from going all in on EV.

All electric 🤡

This will have very positive consequences for their stock.

Smart CEO. GM going out of business. EVs not ready for prime time yet.

Thank you

I think that's the whole argument...don't put all your eggs in one basket (or project). Market will dictate where the cash will flow

Because they’re only half woke unlike the other car companies

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