The fact that they've spun their EV operations to its own unit bodes well for them. This will help focus their efforts and hopefully avoid falling into bad habits of reusing too many legacy components/architecture, which seems to have kneecapped some of the other OEMs.

We're waiting to see their first fully dedicated EV, but the Mach-E and F-150L are really good considering they're parts bin cars made to get experience with EVs.

Burning billions is never fun, but it's got to be done sooner than later if they want to stay competitive.