Ford Motor Co (F - Get Report) CEO Jim Hackett has been on the job since May, but he's already striking a careful balance between future-oriented transportation trends and the classic cars and trucks that have kept the automaker's engine running for more than 114 years, Fox Business reported.
Ford's $1 billion investment in artificial intelligence startup Argo AI and its September 2016 purchase of app-based shuttle service Chariot have drawn criticism as the automaker's yearly sales through July slipped 4%.
Some dealers and investors have said Hackett's focus on future innovations have clouded the company's product decisions on aging models in need of revamping.
But Ford's spending on the future of transportation pales in comparison to its spending on car and truck development, Hackett said. There are several new models in the pipeline that Hackett said dealers will be "really happy" with.
Ford stock traded slightly down 0.2% to $10.78 at Thursday's open.
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