Ford has revealed details of its ‘Ford+ plan’ to scale its electric vehicle production and transform its global automotive business.
Ford Model e will focus on developing key technologies such as batteries, inverters, and chargers, as well as creating software platforms and connected vehicle technologies. It will also create a new shopping, buying and ownership experience, working with intuitive e-commerce platforms. The business was established following the success of the Ford GT, Mustang Mach-E SUV and F-150 Lightning pickup.
Ford Model e will be distinct from Ford Blue, which will focus on expanding Ford’s portfolio of internal combustion engines. However, Ford Model e and Ford Blue will be strategically interdependent.
Ford President and CEO Jim Farley said: “Ford Model e will be Ford’s centre of innovation and growth, a team of the world’s best software, electrical and automotive talent turned loose to create truly incredible electric vehicles and digital experiences for new generations of Ford customers.”
Ford revealed that it plans to produce 2 million electric vehicles annually by 2026, representing one third of Ford’s global volume. By 2030, the company aims to increase this output to half of its global volume. Ford is expected to spend $5 billion on electric vehicles in 2022.
Farley added: “Our ambition with Ford+ is to become a truly great, world-changing company again, and that requires focus. We are going all in, creating separate but complementary businesses that give us start-up speed and unbridled innovation in Ford Model e together with Ford Blue’s industrial know-how, volume and iconic brands like Bronco, that start-ups can only dream about.”
Ford Model e’s product creation will be led by Doug Field, the chief EV and digital systems officer. “Designing truly incredible electric and software-driven vehicles – with experiences customers can’t even imagine yet – requires a clean-sheet approach,” Field said. “We are creating an organization that benefits from all of Ford’s know-how and capabilities, but that can move with speed and unconstrained ambition to create revolutionary new products.”