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 is Ford's planned increase in EV spending to prepare for the electric future?

• $30 billion

• $20 billion

• $10 billion

• $40 billion

How does Ford CEO Jim Farley compare the transition from gas-powered to electric vehicles?

• Like snowboarding versus skiing

• Like swimming versus diving

• Like flying a plane versus a helicopter

• Like driving a car versus a bike

Which specific areas does Ford need to hire in for its EV transition?

• Battery Chemistry and Software Engineering

• Design and Manufacturing

• Human Resources and Finance

• Marketing and Sales

What is the current percentage of EV sales in the United States?

• 1-2%

• 5-6%

• 7-8%

• 3-4%

Who is leading Ford's restructuring efforts?

• Elon Musk

• Doug Field

• Mary Barra

• Jim Farley