Know The Difference Minute

In order to invest more in EV projects, up to 8,000 salaried employees in the Ford's gas-engine division could be laid off.

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The two faces of Ford.
Welcome to the Know the Difference Minute for Thursday, July 21st.
Ford Motor Company has two divisions producing vehicles. One is Ford Blue which handles internal-combustion vehicles. On the other side is the Model-E division, fully focused on Electric Vehicles.
According to Bloomberg, the company is about to play favorites. As part of a plan to cut $3 billion in operational costs to boost profit and invest more in EV projects, up to 8,000 salaried employees in the Ford Blue gas-engine division could be laid off.
Ford’s all-in. They boosted spending on EVs to $50 billion and set a plan to build 2 million battery-electric vehicles annually by 2026 even though they only sold 27,000 in the US last year. Last month, Ford’s EV sales rose 76.6% from a year earlier as it rolled out the electric F-150 Lightning pickup.
I’m Dave Spano from Annex Wealth Management. That is your Know the Difference Minute.