Ford CEO Jim Barley speaks to reporters outside the company’s world headquarters in Dearbourne, Michigan on May 19, following the launch of the electric F150 lightning pickup truck.
Michael Valent / CNBC
Ford Motor Under the company’s latest breakthrough plan, electric vehicles are expected to account for almost half of its global sales by the end of this decade, with the company investing more than $ 30 billion in EVs by 2025, the company said Wednesday.
Ford announced its plans First investor day Under CEO Jim Barley, who assumed leadership of the automaker on October 1, the much-anticipated event is scheduled to begin at 9:30 a.m. EDT and is expected to include detailed presentations from Barley and his management team about the company’s new. Ford + “plans to modify its operations and expand into new emerging markets.
“The presentations will explain where, why, how the company goes with full electric vehicles, business solutions and connected services – and how customers will benefit,” the company said in a statement Wednesday.
Increased investment in EVs From $ 22 billion The company announced in February. Of that, about $ 7 billion has already been invested since 2016.
With the new investment and plan, Ford expects EVs to account for 40% of its global sales volume by 2030. This compares to earlier this year General Motors Announces a goal, which is called an “aspiration” Sell exclusively EV by 2035
Under Barley’s Ford + plan, the company plans to achieve an adjusted profit margin of 8% before interest and taxes in 2023. Barley’s forerunner, Jim Hackett, Both Mark Fields made the same promise before him, but it never came true.
Hackett and Fields were Criticized by Wall Street For failing to explain their plans to Wall Street after former CEO Alan Mulali Boeing The executive saved the company from bankruptcy during the Great Recession.
Barley’s exaggerated plan is reminiscent of the very popular restoration plan and the under-call Mulali called it “One Ford”.
“I am excited about what Ford + means to our customers, and I will have new and better experiences by combining our iconic, world-class vehicles with integrated technology, which continues to improve over time,” Barley said in a statement. “We offer low costs, strong loyalty and high returns to all our customers.
“This is the biggest opportunity for growth and value creation since Henry Ford started measuring the Model T size. We hold it with both hands.”
Prior to the Corona virus outbreak, Ford’s adjusted profit margin was 4.1% in 2019 and 2.2% in 2020. Due to the imbalance in supply and demand in new vehicles due to the ongoing globalization Semiconductor chip shortage, Which rose to 13.3% in the first quarter of this year.
Ford on Wednesday expects revenue from its business to reach $ 45 billion by 2025, up from $ 27 billion in 2019. It includes “hardware and nearby and new services
Ford is addressable, ”the company says.
The automaker will create a new vehicle services and distribution business called “Ford Pro” within the automaker “dedicated to business and government customers”.
Expansion of Ford’s commercial business and its associated fleet of vehicles are priorities for automakers under Barley.
Such an affiliated fleet could compete with its biggest American rival, GM. The Detroit automaker expects more than 7 million vehicles worldwide to be capable of such OTA upgrades by 2023.
Forley has said it plans to electrify its flagship nameplates, leading some analysts to question whether the company will offer an electric version of it. Upcoming Bronco SUV.
Ford has 70,000 bookings for the F-150 Lightning on Wednesday, 44,500 onwards As of Friday morning.
Arco is testing its self-driving technology in six cities across the United States using Ford vehicles. The company released earlier this month Its own litter, Many believe that this is the key technology for commercializing autonomous vehicles.