Ford Motor Company (NYSE:F)’s CEO, Mark Fields, has taken sides with Apple on a hacking dispute with the FBI. His view is very closely aligned with those of other large corporations and was of extreme importance, since it was made during the Mobile World Congress. The CEO was present during the conference to highlight that Ford is transitioning to an auto and mobility company. Fields highlighted the fact that customers own their data and when they trust companies with that data, it should be used very carefully.
Ford is currently one of those companies that are embracing state-of-the-art technology and blending it in their vehicles. In recent years, Ford has been under fire for continued efforts to generate a profit in Europe. However, this year, the company finally succeeded in its unending efforts. The most significant part of this news was that it had mainly been due to soaring SUV sales.
Ford has already begun efforts to become the leading SUV manufacturer and has even announced plans to launch four new SUVs in the market. Success in the segment would be difficult to achieve for the company, since is not even considered as a competitor to the likes of GM and Chrysler. Added to this, Ford has decided to expand its business model, but continues to focus on its core business. Fields had stated at the conference that Ford’s core business is one of growth and it was important that the company continued to invest in it.
Fields also pointed out that the mobility segment is offering some emerging opportunities and Ford is making efforts to take advantage of this fact. Ford is expected to triple its funding for research in semi-autonomous technologies, over the course of the next 5-years. It is important to note here that Ford’s most recent technologies are designed not only for use with Ford vehicles, but others as well.
Ford Motor Company (NYSE:F) closed at $12.42 at the end of the February 23 session, after having a trade volume of 30.14 million and losing 1.11% during the session.