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Ford's gas vehicles head to take on expanded role of leading EV unit

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Ford said on Wednesday the president of its gasoline vehicles business, Andrew Frick, would take on the additional role of leading its money-losing electric vehicle business.
Ford Motor Co. announced that its gas-engine vehicle operations will play a more significant role in supporting its electric vehicle (EV) unit, Model e, starting in 2025. This strategic shift comes as Ford aims to streamline operations and reduce costs, with the gas-engine division taking on responsibilities like purchasing and manufacturing for the EV unit. This move is part of Ford's broader plan to achieve an 8% operating margin for Model e by 2026, despite the EV market's current challenges, including price wars and slowing demand. Ford's CEO, Jim Farley, emphasized the importance of leveraging the company's traditional automotive expertise to bolster its EV ambitions, indicating a more integrated approach between its legacy and new technology divisions.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/autos-transportation/fords-gas-vehicles-head-take-expanded-role-leading-ev-unit-2025-02-05/ ]