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Ford taking a new road in future with a message to capital markets

Posted at 5:34 PM, May 26, 2021
and last updated 2021-05-26 17:52:30-04

DEARBORN, Mich. (WXYZ) — Ford Motor Company continues to change for the future putting more emphasis on electric vehicles, connected services with customers, and expanding commercial and fleet production and sales.

In a presentation designed for Wall Street and the rest of the world, Ford CEO Jim Farley has a clear message saying in a video presentation, “In recent years, our performance hasn't been at acceptable levels. We're running a much tighter ship.”

Later in the presentation, Farley also said, “We appreciate that when you invest in Ford you're investing in our team. And this team is committed to fundamentally transforming our business growing our margins, our cash flow, and returns.”

Last week Ford got a lot of attention with its Ford F-150 Lightning electric truck that will be produced next year.

President Joe Biden visited the nearby Rouge plant and the following night Ford staged a big unveiling with a big-screen video on the side of the Glass House, Ford World Headquarters in Dearborn.

Cathy O’Callaghan is a Ford Vice President who tells 7 Action News, “We already have 70,000 reservations for the F-150 Lightning. So that was a, we’re really pleased. We’re thrilled actually.”

Ford says it is breaking with a long-standing auto industry tradition known as building and selling vehicles. By connecting with current customers and providing them service Ford believes those customers will then order new vehicles and not pick them off of a dealer lot in the future.

O’Callaghan says, “By the end of 2028, we’ll have 32 million units on the road that are going to be fully connected. That’s a lot of scale for the business.”