- We're announcing one of the largest transformations
in the global automotive business.
Full stop.
(upbeat music)
- We have a lot of positive momentum.
In many ways, Ford is on a roll.
We have this opportunity of a lifetime.
- This will be a really big change
in my modernization of the way we're gonna do business.
- We've decided to create two separate auto businesses.
Ford Blue, that'll focus on our
internal combustion engine vehicles
like Bronco and F-150.
And Ford Model e,
which will focus on connected digital vehicles.
- We're taking the best of Ford and we are unleashing it.
- And it's gonna enable Ford
to outperform both those legacy automakers
who aren't doing this,
and the electric vehicle competitors
who don't have our assets like body engineering
and large scale manufacturing.
(upbeat music)
Why now?
This is the single biggest opportunity to change.
To win.
(soft music)
Ford Model e will take a clean sheet approach.
It'll empower innovation and deliver a breakthrough
electric vehicle portfolio
but do it at millions of vehicles of scale.
- Model e will be responsible also to develop software
and technologies that are delivered
to all parts of the Ford enterprise, not just EVs.
- And then there's connectivity on top of it
bringing services and experiences to our customers
on a regular basis, making their vehicles better.
- To really create something that's breakthrough.
That's gonna differentiate Ford and Lincoln
and create another century of prosperity for our company.
(upbeat music)
- Ford Blue will build
our Ford's vibrant portfolio
of internal combustion powered vehicles.
- Bronco and Ranger, and F-150, Super Duty, Mustang.
Those vehicles aren't going anywhere.
I wanna emphasize that
we are going to invest in internal combustion engines.
- And Ford Blue is gonna be the profit engine of Ford,
delivering the lifeblood to fund our future.
- We're going all in for our customers.
We're creating insanely great vehicles.
(upbeat music)
- So it's really about the best of both worlds.
These two separate businesses come together
and we get to harness the strengths of both.
- The Ford Blue and the Model e
families of vehicle brands,
they're gonna strengthen each other.
The capabilities and technologies
are gonna flow from one to the other business,
and that's just not possible for our competitors.
(upbeat music)
Ford Blue and Model e we'll be supported
by Ford Pro, Ford Drive, our mobility business.
Of course, Lincoln Brand and Ford Credit.
(upbeat music)
- To sum it up, we're all in.
We're spending $5 billion on BEVs in 2022.
We're increasing our overall
capital allocation to BEVs,
while also continuing to invest in our iconic name plates
on the ICE side of the business.
As we do that, we will sharpen how we allocate capital
and what we expect in return.
The stakes are high but so are our ambitions.
A 10% company adjusted EBIT margin
with more than 2 million EVs,
which is 1/3 of our global vehicle volume
within four years.
(upbeat music)
- And what I see in the eyes of my teammates
from the factory floor to the C-suite,
everyone in between,
is that they recognize it's time to change it Ford.
That Ford has an opportunity like it has not had
for almost 100 years,
but it will require change.
And if we embrace that change
the company's future will be sustainable.
And that gives us all purpose.
(upbeat music)