Jim Farley vs. Elon Musk Is Good for Both Ford and Tesla: Jim Cramer

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Ford  (F) - Get Ford Motor Company Report said it will up its investment in electric vehicles to at least $30 billion by 2025, and will create a new division called "Ford Pro" that will focus on commercial vehicles and government customers. Ford also said it would deliver an 8% adjusted profit margin--a long held goal for the carmaker--by 2023.

“I’m excited about what Ford+ means for our customers, who will get new and better experiences by pairing our iconic, world-class vehicles with connected technology that constantly gets better over time,” CEO Jim Farley said. “We will deliver lower costs, stronger loyalty and greater returns across all our customers.

“This is our biggest opportunity for growth and value creation since Henry Ford started to scale the Model T, and we’re grabbing it with both hands,” he added

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