The American automaker Ford announced on Wednesday the creation of a new entity dedicated to its electric cars, Ford Model e, while those with combustion engines will be included in the Ford Blue brand.
“Ford Model e will be the center of growth and innovation for the group,” and Ford Blue will be called upon to build a “more profitable and dynamic business [in the branch of combustion engines] thermal,” said in a statement the president Jim Farley. He will also be in front of Model e.
A third entity, Ford Pro, will bundle the productivity services offered to businesses.
At the beginning of February, Farley explained to what extent the electrical and thermal activities were managed differently, especially in relation to their times. For weeks, rumors had been circulating in the Stock Exchange that their activities would end up being separated.
“We’ve made tremendous progress in a short time,” Farley explained Wednesday, citing the launches of the F-150 pickup and Mustang Mach-E. “But our ambition is to be a great company that changes the world again, and that requires focus.”
“We went all-in, creating separate but complementary companies that give us start-up speed and a sense of unbridled innovation with Model e, while Ford Blue will have the industry expertise, sales volumes and iconic models like Bronco, something startups can only dream of.”
The group also announced that it was increasing some of its long-term goals: it aims to produce two million electric vehicles a year by 2026, that is, a third of its global production. By 2030, it wants half of its production to be electric cars.
In addition, it will double its investments in the electricity sector as of 2022, up to 5,000 million dollars. Ford plans to register an operating margin of 10% by 2026, increasing its sales, “improving” the cost of electric vehicles and “significantly” lowering the costs of the thermal sector, up to 3,000 million dollars.
The Renault group also announced in February that it was considering separating its operations, with one organization focused on electric cars in France and another dedicated to thermal vehicles abroad.
