Ford Authority

Ford CEO Jim Farley Says Mass EV Adoption Will Start In 2023

Since Ford CEO Jim Farley took over the top spot at the automaker back in October 2020, he has overseen a major transformation at The Blue Oval as it invests heavily in an all-electric future. Farley has also revealed some grand plans over the past few weeks, including a $50 billion dollar investment in electrification as the automaker aims to produce two million EVs annually across the globe by 2026. And, in spite of a number of obstacles that could prevent FoMoCo from reaching those goals, Jim Farley remains confident that consumers will begin to adopt EVs en masse starting as early as next year.

“So I think the way we’ve thought about it is there’s kind of the first inning, which is the next couple years. And then when we get into a mass adoption, let’s say 2023 through 2026, things change a lot in the first couple years,” Farley said while speaking at the recent Wolfe Research Global Auto, Auto Tech, and Mobility Conference.

There are, of course, a few key obstacles Ford must overcome as it aims to be in a position to capture some of these EV sales over the next few years. For starters, the semiconductor chip shortage has severely hampered the automaker’s production of both ICE-powered vehicles and EVs over the past couple of years, and Farley recently admitted that he believes that problem will persist at least through next year.

Then there are more recent supply concerns related to nickel, a key component in the production of lithium-ion batteries. As Ford Authority reported earlier today, Russia is a key source of this metal, but that country is facing numerous sanctions following its invasion of Ukraine, which has sent prices soaring over the past few days.

Finally, Ford recently admitted that its EVs won’t be profitable until the second-generation models debut in the coming years, which means the automaker expects to lose money on vehicles like the E-Transit and Ford F-150 Lightning, though it did previously say that the Ford Mustang Mach-E program is already profitable.

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

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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  1. Msry

    I think you are missing the mark, why not go hybrid? This country does not have the resources to go 100% electric. I think that this will turn out to be a huge mistake on Fords part.

    1. Yada

      Do you think that gas stations were on every corner when gasoline powered automobiles first hit the roads? Read the story about the first cross country trip in gas powered vehicles.

      1. Steven

        Moot point as we didn’t have enough vehicles to need a gas station on every corner and few people drove. Just nonsense

      2. Mark L Bedel

        No, but cars back then were considered luxury items, and your only other option was a horse.

    2. Jim Hamidy

      Yes you are 100% right and who can afford 50 to 60 thousand and more for an electric vehicle!

  2. Joe

    Ordered 2 ICE vehicles in 2022, 1 already came in and another one next month. Will not buy a EV and not be panicked into one just because gas is expensive for now. Production will increase and the prices will come back down. Battery prices are going through the roof with nickel shortages and show no sign of stopping. Second who wants to add hours to trips when you have to stop and charge every 200 miles.

    1. McCurdy Tony

      Absolutely! I like they way you think!

    2. FullGasTank

      But…but…but…think of the planet! Don’t you want it to be happy? s/

    3. Bill Howland

      Right you are Joe:

      I drive 3 plug-in cars (currently have 2 plug in hybrids and 1 totally electric; I’m working toward only 1 Plug-in hybrid and 2 totally electrics), but I’ll always have a vehicle running on gasoline.

      Gasoline vehicles are somewhere around 50 times cleaner than they were decades ago. – If People still enjoy them there certainly should be no coercion of them to change out. There simply, initially anyway, for years not enough totally electric product out there to satisfy the new car demand.

      People may GRADUALLY decide to make the switch to a plug-in hybrid, or make a big leap into a full electric, but it should be totally THEIR choice.

      You are also totally correct in saying that the price rise of gasoline is temporary…… Our current government just loves to shoot the American People in the foot… Sanctions are hurting primarily Americans.

  3. Tamroc

    Ordered and waiting on a 2022 F-150 Tremor. Have zero interest in going electric and most of the people I connect with feel the same way for various reasons. While it makes sense to have vehicles with various propulsion systems, and give people options, shoving it down people’s throats like the way it’s been done is not a good strategy.

    1. David

      Agree. Bought a gas 2022 Ford Explorer XLT yesterday and take delivery Monday. We have a travel trailer and like to travel 400 miles a day when we are on the road. I want to be the one to decide what I buy, not a bunch of politicians or CEO’s.

      1. Alfred

        And what will you say about a 7 or 800 mile battery range that isnt too far into the future? A private company already has a battery pack that drove a model S 752 miles,. 15 years ago lots of people thought Tesla was going to be a bust.

        1. Mike

          Sure, anyone can strip a car down to reduce weight, add high rolling tires to increase range, drive during optimum driving conditions ( temp, wind, flat surfaces, constant speed ), not use A/C, heat, lights, radio, etc., and average 34 mph, and extend range, even on ICE vehicles. But do people drive that way, or even come close to driving that way? Certainly not real world driving.

        2. David

          If it costs the same as a gas Explorer that would work if the cost comparison comes from lowering the price of the electric, not raising the price of gas units as Ford is now doing.

          BUT only if the influx of electric cars doesn’t drive our home electric costs way up; and the cost of a recharge at a changing station goes down so that the cost per mile isn’t more than gas as it now is.

          Telsa is a great story but most people who are having problems with the forced increase in the price of gas can’t buy a $60,000 car. So far Telsa is a niche market due to price.

          Oh, and they figure out a way to reduce the massive environmental damage from the production of the batteries. Latest study I’ve seen is the breakeven point of environmental damage of the production of electric batteries for a car vs using gasoline power is around 45,000 miles.

          1. Joe

            If you would take a Honda Accord Hybrid that sells for about 30K, gets 43 MPG combined, costs 20k less that a EV like a Mach E it would take 20 years to break even. You have to add the additional cost, 20K, add the sales tax difference, add the install of a home charger, if financed the additional interest costs.

  4. Paul bertrand

    Loved the Ford Edge st and the Ford Edge platinum. Have been driving hybrid for almost twenty years and finally a Ford C-Max and then escape hybrid. Was hoping for edge hybrid but rumors are they will drop edge completely. Big mistake on fords part. Now because the family is growing I have to go to an explorer hybrid. We have always loved fords so please try to keep us in the race at all levels.

  5. R W

    It is obvious the car companies all know how to build an EV. What they don’t talk about is the hidden cost of battery replacement and battery disposal. And how does that affect the environment?

    The companies can make and sell millions of EVs but, what happens every day when those millions go home and plug them in at 6:00 PM ? Is anybody building a new electrical grid to support these millions of vehicles charging ? Will we experience rolling blackouts with the additional loads being put on the system ?

    There is good and bad with all issues in this world. I suspect it will take many, many years to perfect the EV dream. The EV is good for the environment, maybe. But, until I can recharge my EV in 10-15 minutes at every exit ramp on every interstate in this country, I am not sold on the concept. The car companies figured out how to build the cars but, they didn’t think thru all the other issues that go along with it. I’m sure in due time, things will be figured out.

  6. Cut the Cats off

    When the 1 percenters start flying in electric private planes, I’ll get an EV.

    1. R W

      All the corporate VPs fly around the country and many of them are chauffeured when on the ground. They park in the executive garage and their vehicles will be charged while they work. They live in a different world than most folks. The problems won’t apply to them. The politicians in Washington fly everywhere on government jets. They don’t have to worry about charging vehicles either.

  7. Paul

    Amazing. So many commenters here schilling for big oil with their patented misinformation talking points.

    1. Steven

      Those are facts Paul…Facts! And I can’t help but notice you didn’t refute a single one. No one here loves “Big Oil”. That “talking point” has no weight behind it.

  8. Earl

    EV’s are an urban cartoon Farley. No range, no comfort, limited future with those who don’t go any great distance. I can’t drive to me daughters house in any EV currently made, yet my 2017 Flex Limited cruises at 75mph on the interstate and get me there with no problem at 21 mph without stopping. No EV in my future but you keep right on waiting for mass adoption but don’t hold your breath. Oh and don’t forget the environmental footprint for EV’s is worse when you look at it broadly instead of the way environmentalist do.

  9. Bob mac

    Hybrid is the ticket untill hydrogen becomes reality R&D funding for best
    Practices to achieve real efficency & savings. People in government are in it to make a quick buck for themselves not to save the planet WAKE UP PEOPLE!!!!
    Demand better this will effect you soon

  10. James Keane

    In cold weather states the lithium batteries lose 40% of their power!!! That’s not going to work out to well Jimmy!!!

  11. Paul Brubaker

    This will go down as fords biggest mistake

  12. Mike

    How can people buy EVs en masse, when there are none to buy, and the automakers cannot build them fast enough, because of shortages of critical parts, etc.?

  13. Jim Hamidy

    Just like previously stated you can’t force this down people’s throats , the electric vehicle was gaining traction on its own. Charging people $5 a gallon for gas isn’t going to make it happen overnight. This government we now have are control freeks, not to many people want their lives controlled!

  14. Jim

    Just took delivery my my new 22 super duty 7.3 liter gas engine truck last week. Don’t drive that much but want comfort and a vehicle with a combustion engine. Hopefully it will last me a long time. No electric vehicle for me either. I’m close to retiring and want to travel in comfort.


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