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Ford CEO: No plan to spin off EV business, but change coming

by staff

Ford President and CEO Jim Farley speaks during the official announcement of Ford Motor Company along with SK Innovations in building two electric battery factories in Glendale, Ky., at the Kentucky State Capitol in Frankfort, Ky., Sept. 28, 2021. Farley says the automaker has no plans to spin off its electric vehicle or internal combustion businesses. Farley told the Wolfe Research virtual global auto technology conference Wednesday, Feb. 23, 2022, that Ford needs to hit Tesla-like profit margins by using common electric motors, electronic components and other parts across all sizes of vehicles. (Timothy D. Easley/AP)

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