The
CEO of Ford Motor Company, Jim Farley, has been making headlines for his bold vision for the iconic American brand. Since taking the helm in October 2020, Farley has wasted no time in initiating sweeping changes aimed at taking Ford to the next level. To understand Farley's approach, it's important to first look at his background. The 58-year-old executive has been with Ford for over a decade, serving in various leadership roles including head of global marketing and president of Ford Europe. Before joining Ford, Farley worked for Toyota and Lexus, where he was instrumental in launching successful vehicles like the Prius and the Scion brand. What sets Farley apart from his predecessors is his willingness to take risks and push boundaries. He has been vocal about his desire to turn Ford into a "mobility company" rather than just an automaker. This means expanding beyond traditional car sales and exploring new markets such as electric vehicles, autonomous driving technology, and even healthcare. Farley's first major move as CEO was to announce that Ford would invest $22 billion in electric vehicles by 2025. This includes the launch of several new electric models, including the Mustang Mach-E and the F-150 Lightning. Farley has said that he believes EVs will make up 40% of Ford's global sales by 2030. Another area of focus for Farley is autonomous driving technology. Ford recently announced a partnership with Argo AI, a self-driving technology company, to launch autonomous vehicles for ride-hailing and delivery services by 2022. Farley has also said that he wants to explore the use of autonomous vehicles for healthcare purposes, such as delivering medicine to patients or transporting people to medical appointments. Despite these bold moves, Farley is also aware that Ford's core business - selling trucks and SUVs - remains crucial to the company's success. Under his leadership, Ford has introduced several new models, including the Bronco and Bronco Sport, as well as updates to popular vehicles like the F-150 and the Explorer. Farley's leadership style has been described as "collaborative and fast-paced." He encourages his team to think creatively and take risks, while also staying focused on delivering results. Farley has said that he believes it's important for CEOs to have a deep understanding of the industry they work in, as well as empathy for the people who use their products. Overall, Farley's vision for Ford is ambitious and exciting. By embracing new technologies and markets, while also maintaining a strong focus on its core business, Ford could become a major player in the ever-evolving automotive industry. With Farley at the helm, the future certainly looks bright for this iconic American brand.