Ford Motor Co. is planning a major reorganization to prepare for the electric future, using Tesla Inc.’s success as a road map and accelerating EV spending by as much $20 billion.
The effort, led by a former Apple Inc. and Tesla executive, calls for Ford to spend an additional $10 billion to $20 billion over the next five to 10 years converting factories worldwide to electric-vehicle production from making gasoline-powered cars, according to people familiar with the plan.