Ford Motor Company is splitting into two business units. CEO Jim Farley says Ford Blue will focus on internal combustion vehicles and Ford Model e will be for their “digital vehicles.”
“Our corporate structure is holding us back. It does not allow us to focus,” says Farley. “We need our electric business to be about innovation.”
Ford Model e’s Doug Field says they want to hire now.
“Being able to start from scratch, go deep on the technology, and get really focused on building great talent. We want the best people. I don’t care if they come to work in bunny slippers.”
Stock in the automaker closed up over 8% yesterday at $18.10.
