Stellantis NV CEO Carlos Tavares says Ford Motor Co.'s restructuring to separate the company's legacy business from its electric-vehicle operations is a way to impress investors — not consumers who should be the priority.
Ford Motor Co. this week said it's creating two "distinct, but strategically interdependent" businesses: Ford Blue, home of the legacy business whose profits and industrial know-how will underpin the entire enterprise, and Ford Model e, which will field software, electrical and automotive talent to lead innovation and growth initiatives Ford executives see as key to competing in the automotive industry's electric and digital transformation.
But such a strategy poses an ethical conundrum, Tavares said on Friday during a virtual roundtable with U.S. reporters, as internal combustion engine vehicles right now are funding investments to make EVs.
