Ford Dealt a Huge Blow


The announcement no doubt resonated strongly on all floors at Ford’s  (F)  headquarters in Dearborn, Mich.

This unexpected news has certainly taken CEO Jim Farley and his team by surprise as they work to close the gap created by Tesla  (TSLA)  in the highly competitive and lucrative electric vehicle market.

Farley made Tesla Ford’s number one rival. From this rivalry, the chief executive officer wants to emerge as the big winner. To do this, he decided to transform Ford from a legacy automaker into a kind of company in between a startup and a big firm. This involves removing a lot of redundancy and simplifying the decision-making process. In a word, Ford wants to drastically reduce its costs.


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