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IPFS News Link • Business/ Commerce

Ford Shares Pop On Company's Plans To Separate Its ICE And EV Segments

• by Tyler Durden

Ford shares are up about 4% heading into the open on Wednesday. 

The move is to help "fast track" the company's growth in EVs, the company said on Wednesday. The divisions will have separate names, but will both be part of Ford, according to Reuters. Ford is planning on naming executives t0 lead each portion of the business individually, the report says. 

Eventually, the company will separate financial results for the two businesses. 

Ford spokesman T.R. Reid told Reuters: "We're focused on carrying out our Ford+ plan to transform the company and thrive in this new era of electric and connected vehicles."