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Affordable Electric Vehicles Are On The Way, Says Ford CEO Jim Farley

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All-electric vehicles have a number of hurdles to overcome before many traditional buyers are willing to make the switch. That includes things like range anxiety, durability over the long haul, and slow charging times. But affordability is another key problem facing automakers, as most electric vehicles on the market today sell for premium prices. Luckily, it seems that Ford is focused on producing affordable electric vehicles, not high-dollar premium products like the recently revealed GMC Hummer EV, which stickers for over $100k.

“We are not going after the $100,000-plus market. These are affordable vehicles,” Ford CEO Jim Farley said during a recent analyst call. Farley added that Ford is targeting EV prices in the $20,000 to $70,000 range for both the U.S. and European markets. “We’re talking about these vehicles being 10 percent plus of the revenue pool in North America at their price,” Farley said, specifically mentioning the Ford E-Transit ahead of its reveal next month.

“There’s been a lot written about the electrification of our industry and Ford’s bet is different. We’re betting on a full lineup of commercial electrified vehicles,” Farley noted, saying the industry is in the “first inning of electrification and it’ll be a long game that plays out over many years.”

The Blue Oval’s path to producing affordable electric vehicles is already well underway, with its first-ever EV crossover, the 2021 Ford Mustang Mach-E entering production this week at the Ford Cuautitlan Plant in Mexico.

2020 Ford F-150 EV

Additionally, Ford’s new deal with Canadian union Unifor includes a retooling for the Ford Oakville Assembly Plant that will enable it to produce five new electric vehicles starting in 2025. The automaker also just broke ground on the Ford Rouge Electric Vehicle Center, where the all-electric Ford F-150 will be produced starting in mid-2022.

We’ll have more on Ford’s electrification plans very soon, so be sure to subscribe to Ford Authority for 24/7 Ford news coverage.

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Written by Brett Foote

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

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5 Comments

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  1. “We have to reduce Warranty Costs” – ya think?

    I’m glad it at least dawned on the CEO that perhaps he should start delivering reliable vehicles, if he wants FORD to be profitable, and of course, one of the first things he needs to do is improve the reliability of his plug-in products which have had horrible reliability for years.

    Now making the transition to at least some fully electric models, it will be doubly important to start thinking about reliability….

    Bill Ford has been a constant fixture in the company for decades. Why hasn’t some of Henry’s Horse Sense about building a car rubbed off on the offspring?

    Its not like FORD cannot make a good product – there is at least one F-250 Diesel around that has gone a million miles, with the secret being all scheduled maintenance was performed on time, and with authorized FORD replacement parts…. The Plug-ins by contrast have atrocious reliability. Ford, please Snap to it!

  2. Interesting how fewer moving parts seem to lead to more reliability issues? Seems oxymoronic to the Ludwig Mies van der Rohe philosophy of “less is more”.

    Guess the electronics need to become more reliable?

  3. I don’t see Ford with all it’s debt surviving by 2030. To make cars in that price range they need heavy investments in electrical car manufacturing which is hard when you have 100+ billion in debt. How are they going to juggle a dying combustion engine industry that keeps the lights on while doing minimum investment in electric? Also UK won’t allow combustion cars to be sold after 2035. So Ford’s market is shrinking and electric trucks will be out my Rivian and Tesla before them. Ford can’t take a 10% market loss to evs while trying to make evs at a loss while in massive debt

    And don’t ask for another bail out.

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