Ford Motor Company Chief Executive Jim Farley says he wants investors and commercial vehicle customers to pay more attention to the software and services the company wants to sell with those trucks, as well as to the company’s electric Transit vans and its portfolio of combustion engine commercial vehicles.

Reuters reports that, at an event in Sonoma, California, this week, Mr Farley and other Ford executives are rolling out more details of their Ford Pro commercial vehicle strategy – and setting ambitious goals.

“This is a first move by Ford to really start to scale and commit serious resources to digital software and services-based revenue,” Farley told Reuters, about the standalone unit created last May to focus on commercial and government customers.

Reuters adds that Ford has set a goal to increase Ford Pro’s annual revenue to $45 billion (£33.4 billion) by 2025, up 67% from 2019. It adds that Farley said American and European commercial vehicle markets are fragmented, and Ford can use its position as the leading commercial vehicle brand in the United States and Europe to be a leader in pulling the pieces together as commercial fleets go electric.

“We are the Tesla of this industry,” he said.

(Picture – Ford)