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Rachit Vats

Ford Reportedly Set To Announce Separation Of Electric Vehicle Unit Today

Ford United States Jim Farley Ford Motor Co NYSE

Ford Motor Co (NYSE: F) will announce the separation of its electric vehicle (EV) and internal-combustion engine (ICE) businesses on Wednesday, Reuters reported, citing three people familiar with the plan.

What Happened: The Dearborn, Michigan-headquartered automaker’s EV and gas-powered businesses will have separate names but remain under the Ford corporate umbrella, according to the report. Ford will also name the executives leading these units and provide new profit margin targets, Reuters reported.

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