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Ford CEO tells Wall Street to forget Tesla, says 'Pro' business is the future of the auto industry

·1 min

Ford CEO Jim Farley encouraged investors to shift their focus from Tesla to Ford’s “Pro” fleet business, dismissing Tesla’s FSD driver-assistance systems as the future of the auto industry. Speaking at a conference, Farley compared Ford Pro to Deere & Co. and highlighted its potential for growth. Ford Pro encompasses traditional fleet and commercial businesses, emerging telematics, logistics, and other operations for business clients. Ford expects the unit’s pre-tax earnings to reach $8 billion to $9 billion this year. Farley stated that Ford Pro is undervalued and emphasized the importance of its revenue from non-traditional subscription services.