New Ford CEO Jim Farley’s plan for the automaker includes a heavy dose of software and services for its commercial vehicle business as well as new consumer experiences to drive loyalty.
Ford, which is in the middle of a turnaround of its core business, is trying to navigate a shift to electric vehicles, autonomous vehicles as well as an industry that is increasingly more about software. Farley takes over for Jim Hackett, who streamlined the automaker over the last three years.
Farley outlined a series of leadership changes and a plan that includes “expanding its commercial vehicle business with a suite of software services that drive loyalty and recurring revenue streams” and “unleashing technology and software in ways that set Ford apart from competitors.”
In addition, Ford is looking to develop connected vehicles and create new businesses from the Argo AI self-driving system.