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>Ford to Spend Up to $20 Billion
>Reorganizing for Shift to Electric Cars
>February 1, 2022
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>Ford Motor Co. is planning a major
>reorganization to prepare for the
>electric future, using Tesla Inc.�s
>success as a road map and accelerating
>EV spending by as much $20 billion.
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>The effort, led by a former Apple Inc.
>and Tesla executive, calls for Ford
>to spend an additional $10 billion to
>$20 billion over the next five to 10
>years converting factories worldwide
>to electric-vehicle production from
>making gasoline-powered cars,
>according to people familiar with the
>plan. That would be on top of the $30
>billion Ford already has committed to
>EVs through 2025.
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>The move is part of Chief Executive
>Officer Jim Farley�s initiative to
>challenge Tesla�s dominance in EVs
>even as he takes pages from the
>playbook of the electric-vehicle
>pioneer, now the world�s most
>valuable automaker. Investors have
>bought into Farley�s vision for Ford,
>briefly lifting the company�s market
>value above $100 billion in January.
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>https://www.bloomberg.com/news/articles/2022-02-01/ford-to-spend-up-to-2
>0-billion-reorganizing-for-shift-to-evs?sref=ExbtjcSG
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