Dearborn, Michigan – On Mar. 2, Ford announced their intent to split the company into two units. The Ford Model e division would focus on electrical vehicles (EVs) while the Ford Blue division specializes in carbon-producing internal combustion vehicles.
In their press release, these divisions would operate as distinct businesses, but continue to share their best practices and technologies.
This is one of the elements in the Ford plus plan of maintaining shareholder interests with 10 percent earnings before interest and taxes, and produce more than 2 million EVs by 2026.
“Our ambition with Ford plus is to become a truly great, world-changing company again, and that requires focus, “ said Jim Farley, CEO of Ford. “We are going all in, creating separate but complementary businesses that give us start-up speed and unbridled innovation.”