Ford Will Separate EV from ICE Business
Ford Motor Co. said it’s separating its internal combustion and electric vehicle businesses with a goal of increasing profit margins and getting engineers, designers and developers more focused on the unique needs of each powertrain. EVs, which the automaker now expects to account for 30% of its global sales within five years and half by 2030 — will be part of a unit called Ford Model e, while the combustion unit will be called Ford Blue. The two units, along with the recently created Ford Pro commercial unit, will collaborate in some areas but largely operate independently.
Ford also said it’s planning big changes for its dealer body: The automaker wants a certain number of retailers to “opt-in” to selling EVs under a new set of standards that will include carrying no inventory, selling at nonnegotiable prices and being held to fewer facility requirements.