New Ford CEO Jim Farley’s plan for the automaker includes a heavy dose of software and services for its commercial vehicle business as well as new consumer experiences to drive loyalty.
Ford, which is in the middle of a turnaround of its core business, is trying to navigate a shift to electric vehicles, autonomous vehicles as well as an industry that is increasingly more about software. Farley takes over for Jim Hackett, who streamlined the automaker over the last three years.
Farley outlined a series of leadership changes and a plan that includes “expanding its commercial vehicle business with a suite of software services that drive loyalty and recurring revenue streams” and “unleashing technology and software in ways that set Ford apart from competitors.”
In addition, Ford is looking to develop connected vehicles and create new businesses from the Argo AI self-driving system.
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Ford is also looking for a new CIO as Jeff Lemmer is retiring Jan. 1. His successor will lead Ford’s technology and software platform.
The tech strategy from Farley lands after a Sept. 16 investor presentation by Kenneth Washington CTO. Washington outlined the connectivity required from smart vehicles in the future that will include 5G, satellites and edge, cloud, and fog computing.
Washington said the plan is to build out a tech stack that’s future proof.
Our tech stack is designed to accelerate the development and delivery of differentiated customer experiences. And this includes both our retail and our commercial vehicles. We’re designing this tech stack to be future-proof, to connect the vehicle to the smart world around it. It’s going to be able to evolve and continuously integrate into the smart world and
Ford has slashed the price of its upcoming all-electric Mustang Mach-E crossover by as much as $3,000 as the automaker seeks to stay competitive in an increasingly crowded and unsettled sector of the automotive market.
The price reductions, which were shared with dealerships and then posted Tuesday on the Mach-E Club owners’ forum, will be provided to everyone, including customers who already reserved a vehicle. TechCrunch confirmed the document with Ford.
Customers with existing reservations have until mid-October to make changes to their orders in light of the price change. The first Mustang Mach-E vehicles are expected to be delivered by the end of the year.
“Exceptional value has always been a hallmark of the Mustang brand. In addition to its great all-electric driving range and performance, we’re adjusting Mustang Mach-E pricing to remain fully competitive in a segment that is seeing dynamic price changes,” Ford said on the pricing sheet, the same language sent to TechCrunch by a spokesperson.
Automakers tweaking prices on vehicles is commonplace. But in the wild and wooly world of EVs, a marketplace that Tesla has long dominated, pricing can fluctuate often and quickly. Price changes are straightforward for EV companies like Tesla that use a direct sales model. It’s more complicated for legacy automakers such as Ford or GM that use the dealership model.
Ford cut prices on the base models of all Mach-E vehicles — effective Tuesday — except for the GT. The cost of Ford’s Mach-E premium models were reduced by $3,000. Ford cut the price of the CA Route 1 models by $2,000 and the “select” and “first” edition models by $1,000.
Ford unveiled the electric crossover last November. The vehicle marks a series of firsts for Ford and the Mustang badge. It’s the first vehicle to come out of Team