Recently, Ford officially announced that it will split the electric vehicle business and the fuel vehicle business. The Ford Blue division will become the main body of the fuel vehicle business, while the Ford Model e division will be responsible for the electric vehicle business, and more industry-breaking electric vehicle products will be launched in the future. On the evening of March 1, Biden also praised Ford and General Motors when mentioning the electric vehicle business.
Ford Blue and Ford Model e will operate as separate business units, but also share some of the relevant technologies and practical applications, and the two parts will be independently operated and self-financing by 2023, together with the previously announced Ford Pro, which is responsible for commercial vehicles and related services. Ford Model e will accelerate innovation, and in the future, it will launch more breakthrough products to form economies of scale, and is responsible for providing software, intelligent networking technology and service development for various business units of Ford Motor.
At present, Ford is advancing the Ford+ plan to unlock new business growth opportunities and create more value for Ford shareholders. It is expected that by 2026, the company's overall adjusted EBIT margin will reach 10%, and the annual production capacity of electric vehicles will exceed 2 million; by 2030, electric vehicle sales will account for 50% of the company's overall sales. Ford also said tesla and NIO are its main competitors in the field of electric vehicles, and Ford must catch up with these two electric vehicle brands.