Ford Motor Co.
F,
Chief Executive Jim Farley said the automaker doesn’t intend to spin off its electric-vehicle business, tamping down speculation that the company could break off its EV operations to boost market value.
“We have no plans to spin off our electric or [internal-combustion-engine] business,” Mr. Farley said Wednesday during a virtual Wolfe Research investor conference.
Ford shares rose last week following media reports and speculation among Wall Street analysts about the possibility of an EV spinoff.
Mr. Farley said much of Ford’s broader operations will be critical to building out its electric-car business, including its engineering and manufacturing expertise.
An expanded version of this story appears on WSJ.com.
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