Ford Motor Co's incoming Chief Executive Jim Farley said on Tuesday he wants to expand the automaker's operations into related technology fields, including software, fleet management and electric vehicle charging.
- Ford Motor Co’s incoming Chief Executive Jim Farley said on Tuesday he wants to expand the automaker’s operations into related technology fields, including software, fleet management and electric vehicle charging.
In the meantime, Farley, 58, must wrestle with a painful restructuring of Ford’s global operations amid the ravages of the coronavirus crisis that has saddled the No. 2 U.S. automaker with large amounts of debt. Ford shares were up 1.1% in afternoon trading, after initially rising 3% on news of Farley’s succession as CEO.
Last week, Ford reported a quarterly profit thanks to an investment by Volkswagen AG in its self-driving Argo AI unit, more than offsetting an operating loss caused by a coronavirus-induced production shutdown.
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