Ford To Spend Up To $20B In Shift To Electric Vehicles: Report

Detroit MI

01 February, 2022

2:28 PM

Description

DETROIT, MI — Ford Motor Co. is planning a significant reorganization in an effort to challenge Tesla, Inc.'s dominance in the electric vehicle market, according to a report from Bloomberg. Ford has plans to spend up to $20 billion, and the revamping could include a spinoff of its electric vehicle operations, according to the report. This story is being updated.