How CEO Jim Farley Steered Ford to Iconic Company Status

Jim Farley, Ford Motor Company CEO, has led the automaker since 2020, with a focus on profitability, sustainability and competition.

Founded in 1903, Jim has taken the company through its most recent period of transformation, focusing on transitioning the company into a leaner, technology driven and electric-focused automaker as part of his Ford+ strategy.

Ford has been known for making cars accessible to the masses for over a century, “bringing down production costs through the assembly line and distributing it across the US via a locally-based dealer-franchise system”, according to the TIME magazine.

In partnership with Statista, TIME conducted a survey of US residents to rank the 250 American companies that are not only successful on paper but have shaped culture and society. Ford cam out on top. 

“Ford transformed the manufacturing process and also transportation for the average American, reshaping the development of cities and suburbs,” TIME wrote.

It recognises that today, it is in the position to “redefine the future of mobility in the country”.

According to TIME, Bill Ford, Ford’s Executive Chair, said: “Just as my great-grandfather put the world on wheels to give people the freedom of movement, our approach to the modern era is rooted in that same spirit.

“Innovation is not just about building batteries or technology for its own sake; it is about making people’s lives better. 

“We are leveraging our position as the largest hourly auto employer in the US to ensure that the future of transportation is built by American workers for everyday American families.”

A commitment to EVs

Jim restructured Ford in 2022 into distinct units to accelerate growth and specialisation: 

• Ford Model e for EVs
• Ford Blue for traditional internal combustion engine vehicles
• Ford Pro for commercial and distribution services

This enabled Ford to increase its focus on the EV market. Amid recent softening demand for this type of vehicle, the CEO has pivoted towards a broader mix that includes hybrids, extended-range EVs and smaller, more affordable EVs to compete with Chinese automakers, particularly the rising success of BYD.

Jim has been verbal about his approach to the market. Speaking on an episode of the Office Hours: Business Edition podcast in November, he said that he was struck by a “shocking” discovery when digging into competitors’ vehicles, encouraging him to take action that would allow the automaker to compete with Tesla and the rapidly evolving Chinese EV market.

Jim said that he knew diving into EV innovation was going to be “brutal business-wise”, adding: “My ethos is, take on the hardest problems as fast as you can and do it in public because you’ll solve them quicker that way.”

EV sales jumped in the US in 2025, but Jim said in Ford’s third-quarter earnings call in October that EVs will only make up 5% of the US car market in the near term.

Cultural transformation 

As part of Ford+, Jim is heavily investing in new talent, particularly from Silicon Valley, to shift the company culture toward software, connectivity and data-driven, customer-focused relationships.

Building on his commitments to cultural transformation, Ford and Carhartt, two Detroit-born icons have formalised a long-standing relationship through a new multi-year strategic partnership focused on strengthening the “Essential Economy”.

Announced at the Detroit Auto Show by Jim and Carhartt CEO Linda Hubbard, the collaboration will focus on three key areas:

1. Workforce development - training the next generation of skilled tradespeople
2. Community building - expanding access to tools and opportunities in Detroit
3. Durable products - designing gear and vehicles built for tough jobs

Discussing the partnership on LinkedIn, Jim said: “Ford and Carhartt have been working together on job sites for 100 years, now we’re excited to step into a new partnership that makes sure America’s workers have the best equipment and gear they can get.”

This continued contribution to the American workforce further cements Ford as America’s Most Iconic Company, for its lasting legacy to the country.