Ford's new CEO names Amazon, Apple, Tesla, Baidu as biggest rivals - Business Insider

's when markets opened on Tuesday. These four companies also compete against Ford for talent, said Michael Ramsey, an analyst at Gartner.

Farley "is recognizing that if they want to be super competitive in the future, they have to consider those companies competition, and not just the traditional companies that they sell cars against," Ramsey said. Farley has held a variety of positions since joining Ford in 2007, including one focused on connectivity, mobility services, and self-driving cars. He's played a critical role in developing Ford's electric and autonomous-vehicle strategies, Krebs said. He isn't likely to stray too far from the path outlined by Hackett, who oversaw Ford's investments in Rivian and the autonomous-vehicle startup Argo AI, as well as a plan to invest $11 billion in EVs between 2018 and 2022.

One of Farley's challenges will be to articulate Ford's plans better than Hackett did. The outgoing CEO received criticism at times for failing to describe a clear strategy for the company, Ramsey said.

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