Here's Why Ford Just Hired A 3M Co Exec

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Ford Motor Company
Fannounced on Thursday it has hired Rajendra "Raj" Rao, who will leave his position as vice president of digital business model innovation at 3M Co MMM where he led the company's Silicon Valley digital hub and Internet-of-Things (IoT) projects.

Why exactly is Ford interested in a Silicon Valley non-auto exec? According to the Wall Street Journal, Ford wants Rao to help "shake up" its reliance on its core car business.

Related Link: TrueCar Sees September Auto Sales Down ~2% Year-Over-Year

Rao will work with Jim Hackett, another recent hire, to lead the newly formed Smart Mobility unit.

"Ford Smart Mobility is a significant growth opportunity for Ford," Hackett said in Ford's press release which announced Rao's hiring. "Raj has deep experience in digital transformation, new business model cultivation and start-up partnerships. He is the right leader to lead the delivery of mobility services globally and bring to life our vision to change the way the world moves."

Ford's CEO Mark Fields has a simple strategy, which Rao fits into perfectly. Fields wants to catch up with Silicon Valley companies that have taken the lead in electrification, testing of self-driving cars and ride-sharing solutions.

So far, Ford has announced partnerships, investments or outright acquisitions of a van-shuttle company, a bike-sharing service and a laser-sensor maker. All of these will add to the company's in-house talent and help achieve the company's target of getting its autonomous vehicles on the road early next decade.

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Posted In: NewsManagementTechMediaJim HackettMark FieldsRajendra RaoSmart Mobility
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