Executive Chairman: Ford Seeking Partnerships, Possibly Acquisitions in Pursuit of Broader Identity
Ford is pursuing new partnerships as it continues to push itself as being more than an automotive company. According to Ford Motor Company Executive Chairman Bill Ford, the Blue Oval is on the lookout for new partners and potential acquisitions as the company continues to expand on its mobility identity.
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“You’ll see a lot of partnerships, a lot more than you used to see in the auto industry,” Ford said today in a speech at Detroit Startup Week. Earlier this month, Ford was named one of the marquee speakers for the event, which is taking place at numerous locations across the city this week.
While Automotive News reports that no new deals were specified, it was noted that Ford mentioned the company’s strategy with regards to autonomous vehicle technology, vehicle connectivity, and ride-sharing as areas of particular importance. Ford also stated that the company would acquire other companies in the pursuit of its goals “if we thought it was the right way to go.”
Earlier this month, Ford Motor Company announced that it would be investing $182.2 million in Pivotal, the San Francisco-based cloud-based software platform company with whom Ford built its free FordPass app. As a condition of the investment, Ford CIO Marcy Klevorn was appointed to Pivotal’s board of directors.
Ford also established Ford Smart Mobility LLC earlier this year, led by former Steelcase Inc. CEO James Hackett.
While Ford did not announce any specific partnerships, he did respond to the idea of working with Google, saying, “Anything’s possible with anybody. We have a good relationship with Google.”
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News Source: Automotive News (subscription required)