Hyperdrive
Ford CEO Predicts 1,000% Growth for In-Car Software Services
- Existing business has ‘very healthy margins,’ Farley says
- Company hires former Apple executive to run new division
Ford Explorer electric SUV.
Photographer: Chris J. Ratcliffe/BloombergThis article is for subscribers only.
Ford Motor Co. sees revenue from in-car software services, like its hands-free driving feature, surging by 1,000% over the next few years.
To harness that growth, the automaker on Monday said it hired Peter Stern, the former vice president of services for Apple Inc., to run a newly created technology-focused unit. Stern is tasked with growing Ford’s BlueCruise hands-free driving system, as well as developing other in-car services to sell to millions of owners.