Ford CEO Farley explains why the brand isn't going all-electric like GM

Ford is putting its foot on the gas pedal.

The automaker has committed over $50 billion to electrify its lineup with new products and the factories needed to build them, but Ford CEO Jim Farley said it is also continuing to spend on future internal combustion engine (ICE) models like the 2024 Ford Mustang unveiled at the Detroit Auto Show and the upcoming F-Series Super Duty pickups.

"We’re investing in ICE segments where we’re dominant and where we think, as competitors leave the segments, we can actually grow," Farley told...