Ford Considering To Separate EV Business: Reports

(RTTNews) - Auto giant Ford Motor Co. (F) is reportedly considering to split its electric vehicle business from its legacy operations.

According to Bloomberg, Ford is seeking ways to separate its electric-vehicle operation from its century-old legacy business, in an effort to earn investor respect enjoyed by Tesla Inc. and other pure-play EV makers.

The report says that CEO Jim Farley wants to wall off Ford's electric operations from its internal combustion engine business and has even considered spinning off one or the other.

However, Detroit News reported that Ford has dismissed the possibility that it would spin off its electric-vehicle or traditional engine-based business.

"We are focused on our Ford+ plan to transform the company and thrive in this new era of electric and connected vehicles," spokesman Mark Truby said, the news report says. "We have no plans to spin off our battery electric-vehicle business or our traditional ICE business."

Meanwhile, Ford plans to double its current EV output by 2023.