TECH - Former Ford CEO Sees A Bright Electric Future For Established Automakers Says They Are 'Well Positioned To Ride Out The Transition' | Benzinga
The ex-chief of Ford Motor Company (NYSE:F), Mark Fields, recently highlighted the strength of established automakers in the shift to electric vehicles.
What Happened: On a Thursday, Mark Fields, the former CEO of Ford, expressed his views on the current state of the automotive industry during CNBC’s “Last Call”. He emphasized that traditional automakers are well-equipped to navigate the transition to electric vehicles (EVs). His comments come as Detroit’s Big Three—Ford, General Motors Company (NYSE:GM), and Stellantis (NYSE:STLA)—have seen significant gains six months following the United Auto Workers (UAW) strike.
“The market is waking up to the fact that the established automakers are pretty well positioned to ride out the transition to EVs over time,” he said.
He added that the automakers’ stronghold in the internal combustion (ICE) vehicle business, combined with a large installed base, is helping them gain investors’ trust despite high labour costs.
"The market is waking up to the fact that the established automakers are pretty well positioned to ride out the transition to EVs over time," says fmr. ...