Ford CEO Jim Farley kicked off the day discussing the company's growth plans for its gas-powered, fleet, and electric business units.
"I'm not here to tell you that were undervalued, you'll make your own decision," Farley said.that it is maintaining its 2023 guidance of between $9 billion to $11 billion in adjusted EBIT and about $6 billion in adjusted free cash flow.new deals for the supply of lithium productsFord is targeting an 8% EBIT margin on its electric vehicle unit and a 2 million EV production runrate by 2026, up from an expected 600,000 by year-end.
That increase may be surprising, as the company invests billions into EVs. Galhotra said while the company expects its sales of traditional vehicles to begin declining after 2025 in exchange for EVs, vehicles with internal combustion engines will be around "well into" the next decade, he said. "As we build out our next gen platforms, we aspire to deliver [BlueCruise] to as many customers as possible," Field said. "When you can take your eyes off the road, everything changes."
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