Ford Details Company Direction In New Statement

As automakers grapple with changing customer desires, Ford Motor Company has shifted their long-term goals to align with these new trends in the automotive industry.

In a statement outlining Ford’s “business transformation,” the Blue Oval touched on changes to their vehicle portfolio, the development of electric and autonomous vehicles and shifts in product development.

Months ago, Ford announced their intention to discontinue production of all sedans and passenger cars with the Mustang being the only exception. Ford said that the move will help them better meet customer needs as they focus on the production of SUVs, trucks and commercial vehicles.

“We've already taken actions to shift our vehicle portfolio to better meet our customers' needs going forward and strengthen our business, improving returns,” their statement reads, noting that 90 percent of their lineup in North America will belong to the aforementioned segments. “The company is phasing out slow-selling traditional sedans to free up capital for new entries in growing segments.”

Ford also detailed their plans to shift to five vehicle architectures that provide added flexibility. The company said the production change will provide a 20 percent savings in time “from sketch to showroom.”

Some of the starkest changes to Ford in the coming years will be the company’s commitment to electrifying their vehicle lineup and developing autonomous, or self-driving, technologies. Ford said they hope to develop 40 electric vehicles across the globe by 2020, spurred by the company’s $11 billion investment in EVs.

Additionally, Ford plans to invest approximately $4 billion dollars in the development of autonomous vehicles, which includes the company’s $1 billion investment in the Pittsburgh-based self-driving technology company, Argo AI.

Ford made clear to note that their plans are “forward-looking statements” and subject to change due to a variety of factors. For now, however, Ford plans on embarking on a transformational journey that weathers changes in the transportation industry that have never been seen before.

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