Ford EV Spinoff News: 14 Things for F Stock Investors to Know About the Electric Vehicles Split

Ford (NYSE:F) stock is on the rise Wednesday after the automotive company announced plans to spinoff its electric vehicle (EV) business from its main unit.

Ford (F) dealership sign against a blue sky representing Ford EV Spinoff News.

Source: D K Grove /

Let’s dive into everything investors need to know about this Ford EV spinoff below!

  • While Ford won’t be splitting its EV business off into its own company, it will become an independent business from its primary vehicle unit.
  • With this reorganization comes names changes as well.
  • The EV unit will go by “Ford Model e” and the legacy automotive unit will be called “Ford Blue.”
  • Ford says that while these two units are separate, they will support each other.
  • Both will also work with Ford Pro, which is a one-stop shop for commercial and government vehicle needs.
  • They’ll also work together with the Ford Drive business unit.
  • This spinoff will have Ford Model e focusing on several aspects connected to EV development.
  • That includes hiring on “software, engineering, design and UX talent.”
  • It will also deal with developing EV tech.
  • Ford Blue will be much closer to the company’s main business.
  • That includes selling vehicles at a profit and gaining customer loyalty.
  • This will have it continuing to focus on internal combustion engine (ICE) vehicles.
  • Ford also took time during this announcement to reaffirm its outlook for 2022, explaining it doesn’t expect the reorganization to hurt its business.
  • It also points out that it still intends to reach carbon neutrality by 2050.

F stock is up 5.3% as of Wednesday morning.

There’s more stock market news traders will want to know about below!

We’ve got all the hottest stock market coverage ready for traders to read! Among that is Russian stocks halted on Robinhood, what’s hitting ContextLogic (NASDAQ:WISH), as well as the latest takes on SoFi Technologies (NASDAQ:SOFI) stock. You can find out all about these matters by checking out the links below!

More Stock Market News for Wednesday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Article printed from InvestorPlace Media,

©2022 InvestorPlace Media, LLC