Ford Motor laid out some financial expectations and specific growth objectives for its electric vehicle line at an investors' event on Monday. John Lawler, chief financial officer of Ford Motor Co., joined Cheddar News to explain what lies ahead for the automaker.

<div class="block">Ford Motor laid out some financial expectations and specific growth objectives for its electric vehicle line at an investors&#39; event on Monday. John Lawler, chief financial officer of Ford Motor Co., joined Cheddar News to explain what lies ahead for the automaker.</div>

Closing Bell

Ford CFO John Lawler on Automaker's Growth Plans for Business Segments

Ford is in focus today. After the automaker hosted a capital markets event for investors, the company outlined plans to cut costs and eventually turn a profit in its Nason electric vehicle business. Joining me now to discuss how the company is going to get there is Ford CFO John Lawler, John, thanks for joining. So the last time, the last time we spoke about three weeks ago, you told me about continued cost cutting in Europe and new restructuring measures in China. What's changed since then? Well, you know, I don't think much has changed on that front since then, but what's changed for us is we just had our Capital Markets Day today and we've talked about the investment thesis here at Ford and the fact that we have three incredibly strong businesses within Ford and the possibility and the potential growth of each of those businesses. So a local media outlet, John though in China called the Economic Daily News did report that 1300 workers would lose their jobs in China as the company tries to grow collectively around the world. Is that number correct? I'm actually on the China numbers and that what we're focused here today is to talk about the Capital Markets Day, the investment thesis for Ford Motor Company looking forward, of course, there will be restructuring as part of any transformation and we are restructuring in China. We've been consistent about the need to do that. And you know, I'm not familiar with the article that you talked about so I can't comment on those numbers. Ok. Well, let's talk about Ford's gas powered vehicle unit called Ford Blue. I know the company today said demand is outstripping capacity. How is Ford going to respond to that demand? Well, one of the things we are doing is we're expanding the capacity in our Ford Blue business. We have great products. We have Broncos, we have Mustangs, we have F one series leading pickup truck in the industry and we're expanding the capacity. We're going to grow our capacity by about 160,000 units. And we believe that that's going to bring more, better balance on supply and demand. Let's talk about E I know your company intends to produce two million electric vehicles a year by 2026. How are you going to get there? Well, we're investing right now in our blue oval facilities down in Tennessee where we're going to build our next generation pickup truck. We're building battery plants at this point to provide us with the batteries that we need for that. We've talked about transitioning our Oakville assembly plant to battery electric vehicles here in the foreseeable future. So we've got a great footprint in process right now, building both battery plants and manufacturing plant for electric vehicles. And we're producing right now, we're producing Mackey and F 150 lightnings and we just expanded capacity on each of those as well. I know the fleet business, the commercial business as some people might know it called Ford Pro did earn $1.4 billion in the first quarter. What is the pipeline for that segment look like John, as we know businesses really across the board are trying to be more efficient. Well, if you look at our Ford Pro business, we're the leading leader in market share in Europe as a name plate. And here in the US, we've got great products on the road today. Now, not only do we have leading products from an ice standpoint internal combustion engine, we just launched a new super duty because we're up against the clock. So I appreciate you joining. That's Ford CFO, John Lawler.