Ford CEO assures that the investment in EV will pay off
May 10, 2019
Ford is undergoing the most significant transformation since Henry Ford created the assembly line more than 100 years ago. The company is moving away from passenger cars towards SUVs; it has invested in electric vehicles and self-driving technology. However, investors might be concerned about Ford's patchy record in the electric vehicle segment, but CEO Jim Hackett is a stern supporter of the technology. Hackett stated that new technologies always take a while to catch on, but there's always a tipping point when new developments become widespread, and Ford wants to be there when it happens. Ford shares are down nearly 8% in the past 12 months, and the company will roll out its first electric vehicle this year.