Ford Motor Company announced the creation of Ford Smart Mobility LLC, a new subsidiary formed to design, build, grow and invest in emerging mobility services. Jim Hackett, former Steelcase vice chairman and CEO, is leaving his position on the Ford Board of Directors to serve as chairman of the new subsidiary.
Ford Smart Mobility LLC is part of Ford’s expanded business model to be both an auto and a mobility company. The company is continuing to focus on and investing in its core business – designing, manufacturing, marketing, financing and servicing cars, SUVs, trucks and electrified vehicles. At the same time, Ford aggressively is pursuing emerging opportunities through Ford Smart Mobility, the company’s plan to be a leader in connectivity, mobility, autonomous vehicles, the customer experience and data and analytics.
“Ford Smart Mobility and expanding into mobility services are significant growth opportunities,” said Mark Fields, president and CEO, Ford Motor Company. “Our plan is to quickly become part of the growing transportation services market, which already accounts for $5.4 trillion in annual revenue. Jim Hackett is the right visionary leader – with extensive experience in business development and design – to take us into the mobility services business in the future.”
The new Ford Smart Mobility LLC will build on the products, technologies and Ford Smart Mobility innovations and work already under way at Ford Motor Company. Working with Ford’s existing product development, research and advanced engineering, marketing and data analytics teams – which will remain unchanged – the subsidiary will develop commercially ready mobility services and invest in promising mobility-related ventures.
Designed to compete like a startup company, Ford Smart Mobility LLC will design and build mobility services on its own, and collaborate with start-ups and tech companies.
“Ensuring the freedom of mobility requires us to continually look beyond the needs of today and interpret what mobility will mean to future generations,” said Bill Ford, executive chairman, Ford Motor Company. “This new subsidiary will enable us to develop mobility solutions to address the rapidly changing transportation challenges of an increasingly crowded world.”
Reporting to Mark Fields, Hackett, as chairman of Ford Smart Mobility LLC, will lead a team of business and technology leaders from inside and outside the company.
Original source: Ford
