American automobile maker, Ford has announced the creation of Ford Smart Mobility LLC, a new subsidiary formed to design, build, grow and invest in emerging mobility services.
Ford Smart Mobility LLC is part of Ford’s expanded business model to be both an auto and a mobility company.
Ford is aggressively 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.
However, the company says it will continue focusing and investing in its core business which is designing, manufacturing, marketing, financing and servicing cars, SUVs, trucks and electrified vehicles.
Mark Fields, President and CEO, Ford Motor Company in a press statement said that “Ford Smart Mobility and expanding into mobility services are significant growth opportunities,”
“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”, Ford CEO said.
According to the company, 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 start-up 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.”
This new development at Ford will see Jim Hackett, former Steelcase vice chairman and CEO, leave his position on the Ford Board of Directors to serve as chairman of the new subsidiary.
The Ford Smart Mobility plan was established early last year to use technology and innovation to address these trends and to make people’s lives better, Ford said.
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