The automaker aims to produce more than 2 million electric vehicles annually by 2026, representing about one-third of Ford's global volume

Ford Motor Company (NYSE:F) is betting hard on e-transport and has set sights on producing 2 million electric vehicles (EV) a year and a 10% adjusted operating profit margin in 2026. The objectives are some of the most ambitious compared to the company’s current outlook.

Ford announced Wednesday it is creating separate businesses for its conventional and electric-auto operations, as it accelerates its build-out of emission-free vehicles. Under the plan, which sent Ford shares sharply higher, the conventional internal combustion operations will be known as "Ford Blue," while the electric vehicle (EV) products will be…

Ford will split its electric vehicle and internal combustion operations into two individual businesses to accelerate its adaptation of new technology and the Detroit automaker said Wednesday that its ...

Both targets would be substantial increases from the company's current operations.

Ford Model E is the new home of Ford’s electric cars.

The move should help Ford focus its efforts around increasing its EV presence.

Ford is splitting its electric vehicle and internal combustion divisions into separate businesses.

E.V. operations will focus on technology and growth while the traditional business continues to chase profits. “You can’t have people work on both at the same time,” the chief executive said.

E.V. operations will focus on technology and growth while the traditional business continues to chase profits. “You can’t have people work on both at the same time,” the chief executive said.

Ford expects the move to streamline its electric vehicle business and maximize profits. "We're going all in," Ford CEO Jim Farley said.

Ford Blue is the traditional side, powered by internal combustion engines, while Ford Model e is the side that focuses on the burgeoning electric vehicle marketplace.

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Ford announced Wednesday it is creating separate businesses for its conventional and electric-auto operations, as it accelerates its build-out of emission-free vehicles.

The two units will have separate names but will remain under the Ford corporate umbrella.

Ford is splitting its electric vehicle and internal combustion divisions into separate businesses.

Ford said Wednesday it will run its electric vehicle and internal combustion divisions as two separate businesses to accelerate its adaptation of new technology.