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Ford has no plans to spin off its EV business, CEO says

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Ford CEO Jim Farley poses with the Ford F-150 Lightning pickup truck in Dearborn, Michigan, May 19, 2021.

Rebecca Cook | Reuters

Ford Motor has no plans at this time of spinning off its electric vehicle or gasoline-powered vehicle businesses, CEO Jim Farley said Wednesday.

His comments come less than a week after Bloomberg News reported Farley wanted to separate Ford’s electric operations from its internal-combustion engine business and had considered spinning off one or the other.

“Despite the press speculation, we have no plans to spin off our electric business or our ICE business,” he said at a Wolfe Research conference. “It’s really more around focus and capabilities, expertise and…



Source cnbc.com

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