Ford to Spend Up to $20 Billion Reorganizing for Shift to EVs

Ford is inspired by Tesla's success and is planning a major reorganization to focus on electric vehicles (EVs). The company aims to invest $20 billion in EVs, in addition to the $30 billion already committed. Ford's CEO, Jim Farley, highlights the differences between building EVs and gas-powered cars, comparing it to snowboarding versus skiing. The reorganization involves hiring experts in battery chemistry, software, and AI. Ford is also competing in a dynamic EV market, with plans to ramp up production of models like the F-150 Lightning and Mustang Mach E.

What major change is Ford planning to prepare for the electric future?

How does Jim Farley compare building an electric car to traditional gas-powered cars?

What specific areas does Ford need to hire in for its reorganization?

What challenges does Ford face in attracting talent compared to EV startups?

What is the projected number of EVs Ford aims to produce by 2023-2024?