Ford announced on March 2 it will form the business units Ford Blue and Ford Model e with an aim to transform its global automotive business and further develop and scale electric, connected vehicles while strengthening operating performance. Ford Model e and Ford Blue will be run as distinct businesses, the company said.

Executive Chair Bill Ford said in a news release, “We have an extraordinary opportunity to lead this thrilling new era of connected and electric vehicles, give our customers the very best of Ford, and help make a real difference for the health of the planet.”

Last May, Ford President and CEO Jim Farley introduced the Ford+ plan, calling it the company’s biggest opportunity for growth and value creation since Henry Ford scaled production of the Model T.

“We have launched a series of hit products globally and demand for our new EVs like F-150 Lightning and Mustang Mach-E is off the charts,” Farley said. “But our ambition with Ford+ is to become a world-changing company again. We are going all in, creating separate but complementary businesses that give us start-up speed and unbridled innovation in Ford Model e together with Ford Blue’s industrial know-how, volume and iconic brands like Bronco, that start-ups can only dream about.”

The creation of Ford Model e was informed by the success of small, mission-driven Ford teams that developed the Ford GT, Mustang Mach-E SUV, and F-150 Lightning pickup as well as Ford’s EV division in China, according to the news release.

“Ford Model e will be Ford’s center of innovation and growth, a team of the world’s best software, electrical and automotive talent turned loose to create truly incredible electric vehicles and digital experiences for new generations of Ford customers,” Farley said.

The company added Ford Blue’s mission is to deliver a more profitable internal combustion engine vehicle business, strengthen the company's vehicle families, and earn loyalty by delivering service and experiences.

Ford Model e and Ford Blue will also support Ford Drive mobility.

Ford also reiterated its commitment to achieve carbon neutrality by 2050, and to use 100% local, renewable electricity in all of its manufacturing operations by 2035.