Ford will split EVs and legacy autos into separate units as it spends $50 billion on electric vehicles

Key Facts

• Xinhua via Getty Images DETROIT – Ford Motor said Wednesday it will reorganize operations to separate its electric and internal combustion engine businesses into different units within the automaker.
• That leverage and interconnectivity between the two is why Ford decided to not spin off either of the operations, Farley said.
• While announcing the new businesses, Farley said Ford plans to generate 10% adjusted operating profit across the company and produce more than 2 million electric vehicles by 2026.
• NEW LEADERSHIP The company said Farley will serve as president of Ford Model e, in addition to his roles as president and CEO of Ford.

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