The EV unit will be called ‘Model e’, while the legacy combustion vehicles unit will be called ‘Ford Blue’.
Ford has announced that it has separated its Internal Combustion and Electric vehicle businesses as part of a reorganisation. The EV unit will be called ‘Model e’, while the legacy combustion vehicles unit will be called ‘Ford Blue’.
The separation of the two units is part of the brand’s aggressive push towards electrification. According to Ford’s Chief Executive, Jim Farley, the company plans to build 2 million EVs by 2026, which is one-third of its total production volume. This will further increase to 50% by 2030. Ford has also announced an additional investment of US$ 20 billion, taking the total to US$ 50 billion towards electrification.
Ford also stated that while Model e and Ford Blue will be run as two separate units, they will share technology and “best practices”. The two companies along with Ford Pro (its commercial vehicle unit) will report separate financial results in 2023.
Jim Farley will take on the role of President of the new Model e unit, in addition to being the CEO of Ford Motor Company. While Kumar Galhotra will take on the role of President of Ford Blue.