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'Ford announced the creation of separate businesses for the electric autos and internal combustion engine operations<br> <br>Ford announced Wednesday it is [https://www.search.com/web?q=creating%20separate creating separate] businesses for its conventional and electric-auto operations, as it accelerates its build-out of emission-free vehicles.<br> <br>The conventional internal combustion operations will be known as "Ford Blue," while the electric vehicle (EV) products will be run through "Ford Model e."<br> <br>The two ventures will each have distinct executive leadership and report their own financial results.<br><br>Both companies will continue to be headquartered in the midwestern state of Michigan.<br> <br>The company opted against [https://www.content-spinning.fr/ meilleur logiciel De content Spinning] off one of the ventures through an initial public offering, a source of speculation on Wall Street.<br> <br>"Ford Model e and Ford Blue will be run as distinct businesses, but also support each other," Ford said in a press release.<br> <br>Executives said the EV company would benefit from access to industrial know-how, while the conventional business would prosper from newer technologies.<br> <br>"No we are not spinning off Model e," said Ford Chief Executive Jim Farley.<br><br>"That's because the structures we set up actually make it stronger than a spin-off."<br> <br>Ford said the [https://www.wired.com/search/?q=intention intention] of the structure is to give the EV venture "the focus and speed of a start-up," while the conventional business will try to excel at the challenges of a mature business, "relentlessly attacking costs, simplifying operations and improving quality."<br> <br>A third division, Ford Pro, will serve commercial customers.<br> <br>Ford also raised some of its operating and financial targets.<br><br>The company now expects to produce two million EVs by 2026, about one third of global volumes, rising to half by 2030.<br> <br>In February, Ford said EVs would account for at least 40 percent of its product mix by 2030.<br><br>adverts.addToArray({"pos":"inread_player"})Advertisement'