Despite the losses, Ford remains committed to its electric vehicle business and has invested heavily in it. The company recently announced a $22 billion investment plan for EVs over the next four years. This includes developing new battery technologies that will help reduce costs and improve the performance of electric cars and trucks. Additionally, Ford is working on extending its charging network across North America with an additional 10,000 public charging stations by 2022. Ford’s commitment to EVs appears to be paying off, as sales have risen steadily since 2019. The automaker reports that sales of all-electric vehicles rose 40% year-over-year in 2020 and are expected to continue growing this year as more models become available from the brand.
The new reporting structure is designed to give investors a clearer picture of Ford’s strategy and execution across the five business units. It will also allow Wall Street to better assess the performance of each unit, particularly during the transition period as Ford moves toward electric vehicles. The company expects to provide detailed quarterly updates on each business unit’s financials beginning in mid-2022. In addition, it plans to offer more information about its progress related to engineering, technology development, and customer experience for each product line and market segment. With this level of transparency into how it is progressing with its transformation plan, investors can understand where Ford stands as it works towards becoming a leader in electric vehicle production and sales.
The restructured segments are designed to leverage Ford’s strengths and capabilities across multiple channels, allowing the company to pursue opportunities that support its long-term strategy. The new segments will help Ford better understand customer needs, accelerate product development cycles, and increase team collaboration. Additionally, it should create a more efficient corporate structure that supports increased agility in responding to changing market demands. Lawler said, “Our goal is for this simplified financial reporting structure to provide investors with greater clarity into our operations and performance.”
The Model e will have class-leading performance and range and an all-new platform designed to maximize efficiency. Ford says it has also incorporated the latest safety technology into the car, including lane-keeping assist and automatic emergency braking. Other features like wireless charging and over-the-air software updates are also available to make the car even more enjoyable for drivers. The company expects customers to use the Model e for everything from commuting to road trips, so plenty of options are available for convenience and comfort.
Ford’s decision to keep its EV business in-house indicates its overall strategy. It has also invested heavily in its autonomous vehicles business and is rapidly expanding into new markets worldwide, focusing on electric vehicles. Ford plans to invest $11 billion by 2022 as part of its transformation plan to become “the most trusted mobility company, designing smart vehicles for a smart world.” This shows that Farley and other executives are determined to make EVs integral to Ford’s future success.
At the teach-in, Ford executives will explain how this new structure will help improve its overall system and how it can better meet customer needs. The company is also expected to discuss areas where Ford has already begun making progress, such as reducing complexity in its product line-up, improving cost efficiency, and increasing the use of advanced technologies. Finally, Ford plans to address questions related to its restructuring efforts and provide additional information about its financial performance. This is an exciting time for investors and analysts alike as they gain a deeper insight into the workings of one of America’s leading automakers.