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?

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

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

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

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

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