In the recent developments, Ford has decided to split the company into 2 divisions – one focusing on the ICE and the other on EV. The EV division will be called the Ford Model E and the ICE division the Ford Blue. Ford has taken a step forward to display its commitment towards electrification. So how does this work for Ford? Read further to know more.
Ford Model E and Ford Blue
The President and CEO of Ford, Jim Farley stated “We are going all in, creating separate but complementary businesses that give us startup speed and unbridled innovation in Ford Model E together with Ford Blue’s industrial know-how, volume and iconic brands like Bronco, that startups can only dream about.”
The traditional internal combustion engine division will be led by Kumar Galhotra, the president of Ford’s international business unit. The Ford Model E will be under Jim Farley himself. This means that the development of the BEVs, technology and software is handled here.
The new structure means that both entities have to report all financial results separately. But this doesn’t mean they are two separate companies, they will be owned by Ford. So any investors can not buy separate stocks in Ford’s EV business.
The carmaker aims to sell huge numbers in the next 4 years. “We’re making a commitment to go to 2 million electric vehicles by 2026 in four short years. That’s one product cycle. To do that we need a completely dedicated focus team.” mentioned Jim Farley.
Currently, Ford sells the Mustang Mach-E and F-150 Lightning EVs. One of the most popular SUVs, Explorer will also get electrified by 2023. We can certainly expect a few more products from Ford in the near future.
Ford India Plans
Ford has shut the door for India except for a few imported models to be sold. Reports claim that the carmaker is considering to start producing EVs in India, but we know nothing for sure. They unveiled the latest version of the Everest SUV or known as the Endeavour in India. Ford is yet to confirm Everest SUV to India, which will come through the CBU route if approved.
1. Is Ford Model E a new company?
No, Ford is just dividing its conventional ICE and EV division. They are owned by Ford itself.
2. Does Ford sell EVs in India?
No, Ford will only sell imported ICEs in India. We expect them to bring in their EVs in the future.