Ford struck a huge blow

The message no doubt resonated loudly throughout Ford’s floors (Well) headquarters in Dearborn, Michigan.

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

Farley turned Tesla Ford into number one competitor. From this rivalry, the CEO wants to emerge as the big winner. To do this, he decided to transform Ford from a legacy automaker into something between a start-up and a major firm. This involves removing a lot of redundancies and simplifying the decision-making process. In short, Ford wants to drastically cut costs.

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