Ford CEO Jim Farley said the company is investing in internal combustion engines as other brands leave the segment because not everyone is ready for electric vehicles. The automaker has committed over $50 billion to electrify its lineup with new products and the factories needed to build them, but Ford CEO Jim Farley said it is also continuing to spend on future internal combustion engine (ICE) models like the 2024 Ford Mustang unveiled at the Detroit Auto Show and the upcoming F-Series Super Duty pickups.
