Jim Farley started his tenure as Ford CEO on October 2020. He came in to replace Jim Hackett. Since then, Farley has revolutionalized the motor giant's operations and profitability, achieving massive success. He works with people with significant experience in the automotive industry in his leadership team to achieve the company's objectives.
Changes that Jim Farley Introduced
According to MotorTrend, Ford had been overtaken by most of its competitors by the time Farley took over. The poor performance was attributed to a lack of transparency and weak leadership. Under Farley, the auto manufacturer has managed to avail several game-changers to consumers, such as the Mustang Mach-E, the Maverick, and the 2022 Ford F-150 Lightning.
Under the new CEO, Ford has increased its electrification plans. Both Lincoln and Ford are now bringing forth electric vehicles for the steadily rising market. In addition, Ford is expanding its electric vehicle assembly plants to increase its production capacity.
Previously, Ford was outsourcing battery cells for its vehicles. Currently, the auto manufacturer has three factories distributed in Kentucky and Tennessee that manufacture battery cells, thanks to Farley.
This is one of Farley's plans to manufacture essential components in-house instead of outsourcing. Ford now estimates electric vehicle sales by 2030 will constitute 40 percent of its total car sales in the US.
The auto manufacturer's stock has grown steadily under Farley. The CEO has demonstrated a unique leadership style that enables him to revise plans to satisfy the market when the need arises. Farley's performance and decision-making have exceeded expectations, earning him the 2022 MotorTrend Person of the Year title.
Conclusion
Contact Mall of Georgia Ford to learn more about Ford cars and new developments to expect in the future. Our attendants will be eager to strike up a conversation with you.