Business & Tech

Ford To Spend Up To $20B In Shift To Electric Vehicles: Report

The automaker is aiming to challenge Tesla's hold on the electric vehicle market, according to a report from Bloomberg.

Ford Motor Co. is looking at reorganizing in an attempt to challenge Tesla's dominance in the electric vehicle market with plans to spend up to $20 billion, according to a report from Bloomberg.
Ford Motor Co. is looking at reorganizing in an attempt to challenge Tesla's dominance in the electric vehicle market with plans to spend up to $20 billion, according to a report from Bloomberg. (Scott Anderson/Patch)

DETROIT, MI — Ford Motor Co. is planning a significant reorganization in an effort to challenge Tesla, Inc.'s dominance in the electric vehicle market, according to a report from Bloomberg.

Ford has plans to spend up to $20 billion, and the revamping could include a spinoff of its electric vehicle operations, according to the report.

This story is being updated.

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