By: Economic & Finance Report
Ford Motors (F) last week split it EV electric vehicle business from its regular auto business. The split was a part of Ford Motor’s (F) restructuring plan, to make the 100+ year automaker more tangible for economic costs. Analysts have indicated the the spin-off couldn’t have come sooner. The EV marketplace has recently been taking a beaten, because of the war in Europe (between Ukraine & Russia).
Ford (F) has indicated that the EV market is still not ready for full throttle showcasing against it superior trucks; that happens to reign supreme in the auto’s space. The company has indicated that the split of the EV division from its corporate operations was facilitated to provide transparency. Both businesses will still be in alignment, but their financial reporting’s will be separate.
Ford (F) believes this was the solution that needed to happen, only next year 2023 will the results be presented clearly. -SB
Image Source: Automotive News