The company’s CEO, Jim Farley, said in a statement, “We are building two separate but interdependent businesses that will give us the same speed and innovation as a startup.” The company is already developing electric vehicles like the Ford GT, Mustang Mach E SUV and the F-150. It also has an EV division in China.
The company also has outlets in the form of Ford Pro to cater to the needs of its commercial and government customers in petrol, diesel engined and electric vehicles. In these, services like software, financing and charging are provided for the products of companies other than Ford. Big automobile companies like Ford, General Motors and Volvo are trying to increase their share in the EV segment. The biggest rival for these companies is Tesla. American company Ford also plans to hire engineers to work on concepts such as artificial intelligence, battery chemistry and EV software.
Ford also plans to start the business again in the Indian market with the EV. Ford had closed its business from India last year. The company is contemplating to make India a hub for manufacturing and exporting EVs. The company has also expressed the possibility of selling cars in India in the coming years. Ford had applied to participate in the Central Government’s Performance Linked Incentive (PLI) scheme. This application has been approved. This is indicating Ford’s interest in the Indian market. This could be a good time for Ford to enter the Indian market as the number of electric vehicles in the country is very less. However, Ford will need major upgrades to start manufacturing the EV at its plants in Sanand and Chennai in Gujarat.
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