Is Ford Splitting Up EV and ICE?

Ford Motor Co. (NYSE: F) is set to announce that its electric vehicle (EV) and internal combustion engine (ICE) businesses will be run separately. The reorganization will allow Ford to fast-track growth in EVs.

While the EV and ICE businesses will have separate names, they will remain under the Ford corporate umbrella, similar to how the company runs its Ford Pro commercial business for corporate customers.

Sources said that US automaker will name the executives who lead each business and they will also outline the updated profit margin targets for the company overall, but the goal is for the company to eventually report separate financial results for the two businesses.

This move follows a growing preference among investment managers for companies focused on low-carbon technology, which was what helped Tesla become the world’s highest-valued carmaker.

Ford spokesman T.R. Reid declined to comment on the report. “We’re focused on carrying out our Ford+ plan to transform the company and thrive in this new era of electric and connected vehicles,” he said.

A huge push for the EV business

The company on Tuesday released a video on their plans to scale up global battery EV production capacity to 600,000 annually by the end of 2023.

Shortly after, US President Joe Biden also tweeted about Ford and GM’s investment in EVs.

Ford closed at $16.70 on March 1, 2022.


Information for this briefing was found via Ford, Twitter, Youtube, and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Ford Enters Partnership With GlobalFoundries to Boost Semiconductor Supply

Ford (NYSE: F) has decided to enter into a partnership with a semiconductor manufacturer in...

Thursday, November 18, 2021, 10:20:00 AM

Is Ford EV Demand Weakening?

In a recent Twitter thread, an individual known as CarDealershipGuy claimed that Ford’s electric vehicle...

Saturday, July 8, 2023, 09:04:00 AM

Ford to Pay $1.7 Billion in Damages For Fatal 2014 Rollover Accident

Ford Motor Co (NYSE: F) will have to pay $1.7 billion in punitive damages after...

Wednesday, August 24, 2022, 01:28:00 PM

Ford Recalls F-150 Trucks Due To Parking Brake Issue

Ford (NYSE: F) announced on Friday a safety recall affecting 870,000 F-150 trucks in the...

Friday, July 28, 2023, 01:38:15 PM

Canaccord: Ford’s Absence From Rivian-Mercedes Deal Is Telling

On September 8, Mercedes-Benz announced that they had signed a Memorandum of Understanding with Rivian...

Sunday, September 11, 2022, 11:12:00 AM