Ford is reorganizing its operations to create a distinct EV business unit separated from the conventional internal combustion engine (ICE) operations. The split is designed to assist, in particular, the scale-up and speed of the company’s burgeoning EV business.
‘Ford Blue’ will build out company’s portfolio of ICE vehicles while ‘relentlessly attacking costs, simplifying operations and improving quality’, the company says.
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‘Ford Model e’ will accelerate innovation and delivery EVs ‘at scale, and develop software and connected vehicle technologies and services for all of Ford’.
Ford Blue and Ford Model e will operate as distinct businesses, but share relevant technology and best practices to leverage scale and drive operating improvements; along with Ford Pro, all three businesses are expected to have discrete P&Ls by 2023.
Ford said the move accelerates the Ford+ plan to unlock growth and create value for Ford’s shareholders. The company is aiming for total company adjusted EBIT margin of 10% and annual production of more than two million EVs by 2026 with EVs representing half of global volume by 2030.
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