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Company veterans promoted to set a course for the future of Ford

Ford on Wednesday named two company veterans to lead its auto and mobility businesses as the No. 2 U.S. automaker shifts its focus to autonomous vehicles and realigns its automobile portfolio. Joe Hinrichs was named president of Ford's automotive unit, and Jim Farley will be president, new businesses, technology and strategy, effective May 1. Both will report to Chief Executive Officer Jim Hackett. Hinrichs' goal will be a sustainable EBIT margin (earnings before interest and taxes) of at least 8 percent, Ford said. He'll have responsibility for all of Ford's global business units, and both the Ford and Lincoln brands. And he'll lead all of the automotive skills teams, from product development through customer experience. "Joe Hinrichs possesses the knowledge, experience and leadership to now take our Automotive business to world-class levels of product excellence, customer satisfaction, efficiency and financial performance," Hackett said. "As we enter a busy period for new product launches and further restructuring in underperforming markets, Joe's leadership in transforming businesses through focused execution will be key." Farley is charged with leading Ford's strategic transformation, in which it hopes to gain higher margins through smart/connected vehicles. He'll oversee corporate strategy, global data analytics, global partnerships, research and advanced engineering, including initiatives in smart mobility and autonomous vehicles. "Jim Farley's job is to drive us into the future, both strategically and operationally, from AVs to mobility experiences to leveraging AI and big data. Jim combines an innate feel for what customers want and need in vehicles and the ability to translate this into the vehicles and services of the future," Hackett said. Marcy Klevorn, president of Ford Mobility, plans to retire Oct. 1 after 36 years at Ford. Until then, she will report to Hackett in a strategic role. "I have asked Marcy to work with me and the senior team to accelerate our transformation," Hackett said. "Marcy's decades of experience working with many of the leading companies in the tech space as well as the work she has done with the transformation of Ford IT and the establishment of Ford Mobility gives her unique knowledge to drive these initiatives."

2016 Ford Shelby Mustang GT350R First Ride

Ford Performance Chief Engineer Jamal Hameedi was in China when he received an interesting text. Half a world away his team was shaking down the newest Shelby Mustang at Grattan Raceway in rural Michigan. The news was encouraging. The GT350R was keeping pace with a Porsche 911 GT3, even nosing ahead of it during time trials, while the GT350 was running about even with a 911 Carrera S and a Chevy Corvette Stingray. "That was a good text to get," he recounted a week later as we chatted alongside the track at Grattan. On this scorching summer day, there were no Porsches or Stingrays to be found, but we've come to preview the track-focused GT350R. Ford drivers are at the wheel, and we're riding shotgun. After several hot laps, we're left with a predictable observation: The GT350R is wicked fast and quick as hell. Much of this is thanks to the 5.2-liter flat-plane crank V8 that pumps out 526 horsepower and 429 pound-feet of torque. It's the most powerful naturally aspirated road-legal engine in Ford's 112-year history. To help the engineering process, Ford bought a Ferrari 458 Italia and ripped apart its V8. The GT350's engine ended up being 10 pounds lighter. For the coup d'grace, Ford's mill also revs to a Ferrari-like 8,250 rpm. As formidable as all of that looks on paper, it sounds even more imposing in real life (see the related video below). The engine in our GT350R crackles, growls, and opens up to a flat-out roar as we explode onto the track, gripping the door pulls to calm our nerves. Grattan is a challenging, twisty course. The corners are tight, and the elevation changes quickly. At one point, our test driver aggressively tackles a curve and we're briefly airborne. During the first stint, we reach about 140 miles per hour. But the GT350R isn't about straight-line speed or pure power. It's designed to get around a track as rapidly as possible. That means Ford took the 'base' GT350 – which should be more than at home on the track itself – and re-tuned the suspension and aerodynamics. There's a larger front splitter and rear carbon-fiber spoiler. The 19-inch carbon-fiber wheels are stiffer and lighter than comparable aluminum rollers, and they're wrapped in Michelin Pilot Sport Cup 2 high performance rubber. Additionally, Ford ripped out the back seats, air conditioning, trunk floorboard, stereo, backup camera, and anything else that wasn't necessary.

Recharge Wrap-up: Tesla considers Model III SUV and wagon, Ford tears Tesla apart

Worries over Brazil's electric grid mean EVs are excluded from green car incentives. As part of a new efficiency program, non-plug-in hybrids will be eligible for a reduction in import duties, while EVs and plug-in hybrids will not. Brazil's government is concerned that the country's grid lacks the capacity to handle the increased load from an influx of EVs. Brazil plans to create a new incentive program - perhaps a more inclusive one - when the current one expires at the end of 2015. Read more at Green Car Reports. Tesla could make SUV and wagon derivatives of the upcoming Model III sedan. Tesla's VP of engineering, Chris Porritt, told Auto Express that to reach as many customers as possible, Tesla would consider all its options. "SUVs, estates - who knows?" says Porritt. He also says that while the company is currently focused on products with a broader appeal, another Roadster or other sports car aren't out of the question in the future. Read more at Auto Express. Ford admits to a Tesla Model S teardown. Ford CEO Mark Fields says that after disassembling, reassembling and driving the model S, his company is "very familiar with that product." He also says the Ford has the capability to build a similarly high-tech, long-range electric car. The questions still remains if Ford has plans for such a vehicle, but Fields says that it fits within Ford's "product philosophy." Read more at Business Insider and at USA Today.