Ford CEO Alan Mulally says the company is moving away from profit reliance on light trucks toward fuel-efficient cars that meet government fuel-efficiency standards. Union concessions and debt restructuring will allow these vehicles to be built in the US. Ford’s excellent quality will allow competing directly with Japanese makes.
Says
“In 10 years, 12 years, you are going to see a major portion of our portfolio move to electric vehicles.” — Alan Mulally, CEO, Ford
Significant Points
Ford has outlined plans for range of battery-powered and hybrid vehicles over next several years
Announced plans to introduce battery-powered commercial van in 2010
Battery-powered small car in 2011 and a plug-in hybrid to in 2012
CEO Alan Mulally says Ford expects electric vehicles will represent a “major portion” of its lineup a decade from now
Situation
Ford was 1st US automaker to roll out its own hybrid w/ Escape SUV in 2004
Backed away from commitment to more in 2005 when financial problems started
US government demanding steep increases in fuel economy
Has put money forward to help automakers adopt new fuel-saving technologies
Ford breaking away from 60%+ reliance on pickup trucks and SUV sales