Ford exec: Automaker positioned for future
Ford Motor Co. is leaning on experience amid calls for a clear path to the future of the auto industry.
Joe Hinrichs, Ford president of global operations, told Goldman Sachs analysts Tuesday in Boston that the Blue Oval’s history will drive the company forward as it expands into electrification, autonomous vehicles and other new mobility fields. The comments come as CEO Jim Hackett outlines plans to cut $14 billion in costs over the next five years and change the Dearbornbased company to drive up value.
It was the third time in two weeks that a Ford executive has pointed to the company nameplate as a driving force into a future where traditional automakers will compete in electrification, autonomous driving technology and mobility services like ride-sharing and shuttle services.
“Ford will be part of the solution of the future of transportation mobility challenges,” Hinrichs, said when asked why someone should buy Ford stock today. “We’re going to be part of that solution as we have been for 114 years. And we have capabilities and experiences that matter in this business. We’re going to be a successful part of that plan.”
Hinrichs told investors that consumer confidence in the Ford brand will add value in the future, though he offered no new information on the company’s plan under its new CEO. Hackett and Executive Chairman Bill Ford Jr. have done the same at recent talks in Detroit.
Ford’s pickups will continue