Ford is looking to increase its investment in electric mobility again to convert more plants to produce electric vehicles, according to an agency report, and Ford is also reportedly considering spinning off part of its EV business into a separate company.
The plan, dubbed "Ford+," is also reportedly designed to make Ford more attractive to investors, who are expected to value it more like a tech company than a carmaker - as is already the case with Tesla de facto. An executive with a history in tech corporations is also said to be behind the plans: ex-Apple and Tesla executive Doug Field had joined Ford last year.
The additional investment will be used, among other things, to convert existing plants around the world to produce e-vehicles. Ford currently builds the Mustang Mach-E at its Cuautitlan plant in Mexico and in China with joint venture partner Changan. The F-150 Lightning is built in Dearborn at the Rouge Electric Vehicle Center next to the existing pickup truck plant, and the E-Transit is assembled in Kansas City.