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Ford Motor Company (F) Morgan Stanley Sustainable Finance Summit Conference (Transcript)

May 25, 2023 9:57 PM ETFord Motor Company (F), F.PR.B, FPD4 Comments
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Ford Motor Company (NYSE:F) Morgan Stanley Sustainable Finance Summit Conference Call May 25, 2023 10:15 AM ET

Company Participants

Jim Farley - President and Chief Executive Officer

Unidentified Analyst

Great. Welcome, everyone, and thank you for joining us all today for a conversation with one of the leaders in transformation of a critical piece of the real industrial economy. I'm thrilled to be joined this morning by Jim Farley, Ford Motor Company. Jim has been part of Ford since 2007, and assumed the role as President and CEO in October of 2020 as the company and the industry drove into its most significant transformation since the innovation of the Model T assembly line.

Under Jim’s leadership, Ford has introduced the Ford Mustang Mach-E and Ford F-150 Lightning, daring to lead the past for the electrification with two of Ford's most iconic and critical vehicles. Ford has also recently reorganized the company and its reporting along the lines of its traditional gasoline powertrain, electrification, and commercial vehicles, providing a pioneering transparency and accountability in the industry.

We're thrilled to have Jim with us today to discuss how he has approached revolutionizing a 120-year old purpose-driven company and an industry with its stakeholders. Before we dive into some questions, we'd like to share some background on Ford's mission and transformation journey with a short video.

[Video Presentation]

Great. So Jim, thanks for joining us today. Can you start by telling us a little bit about Ford’s journey to transform into a leader in electric vehicles, and how is your strategy unique amongst your peers?

Jim Farley

Sure. Well, first of all, I want to thank those of you who are partners for Ford and the Ford team for being here. We are the number one employer of Americans in our industry. We have about 60,000 hourly workers, about

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Comments (4)

Farley is firing on all cylinders. It's highly unusual for someone who has spent their entire career in the bowels of two huge legacy auto OEMs to thinks so transformationally. Reinventing F is much harder than starting a de novo enterprise.

He not only gets all aspects of the challenge, but he can articulate in a very approachable manner. He reveres F's legacy (where his dad worked) and is using its culture very effectively.

He's also brought in a lot of new blood. Darren Palmer (media.ford.com/...) has been interviewed extensively about how Blue Ford is starting afresh. Unafraid of taking risks.

Linda Zhang (media.ford.com/...) is quite extraordinary. Josh Halliburton was brought in from JD Power. It's a deep bench. The CFO is managing the financial aspect of the evolution impressively. Lisa Drake (media.ford.com/...) is leading battery development among other things.

Farley command of the playing field was articulated well in the very recent investor presentation: s201.q4cdn.com/... F has locked down supply chains for critical elements for years. It understands the imperatives to overhaul dealer relations. Moving to selling online at fixed prices is very smart.
Risk Advisor profile picture

He is a great planner as expressed recently in his own words in answer to a question about himself regarding his dream job:

Jim Farley’s dream job? Be a product planner for a car company. To be like the person who invented the product concept. Still doing that work. It drives my team nuts, actually. I think we need this. No, my son likes that or my daughter likes that. But, yes, I just love – I actually get as excited on minivan, as I do on Ford GT or a Raptor.

I just love seeing – I was a product planner, came up with the idea of a unibody lightweight crossover for women and combine it with a great dealership experience called the Rx 300 or Lexus in 1992. So, I always love finding a [hole] in the market that others can't see because in our business, it's a big advantage. That's what I love. Product planning, yes.

But can he execute? Time will tell.
vooch profile picture
……Everyone thought that the transition is going to be to electric. It turns out that's actually not very interesting. It's necessary, but it's not interesting.

The most important change is to go from an analog to digital product. So, we now know we didn't a year ago of what the three shippable software will be for the car like your phone, it was like e-mail and listening to music in 2007, 2008. We now know it's like safety, security, productivity, software and partial autonomy.

So, it's really exciting to have the teams build-out the software and upgrade all the electric architectures in-source all of that, all the software that controls the vehicle inside the company. And now we're in the midst of that……

Someone buy Farley a MaiTai !
Ripping the face off mountains to extract metals for car batteries is hardly a sustainable environmental model. What a hoax!
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