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Jim Farley Expects Low Cost Ford EV To Compete Against Tesla

When Ford announced that it was investing billions in electrification a couple of years ago, its biggest target at that time was the company with the most market share in that particular segment – Tesla. A lot has changed since then, with global demand for EVs lagging behind expected levels of growth, prompting Ford to dial back its investments in that area and delay the launch of certain models. However, the forthcoming, low-cost Ford EV that’s currently under development is still being envisioned as a Tesla fighter, too.

Tesla Model 3 Refresh - Exterior 002 - Front Three Quarters

“And we think the main competitors will be the new Tesla Model 2,” Ford CEO Jim Farley said during a recent interview with NBC News. “We think Tesla will come out with an affordable vehicle, and the Chinese players from BYD and the state owned enterprises.” The Model 2 has long been rumored to be the name for Tesla’s own entry-level EV, which was previously rumored to have been canceled, though that report was later shot down by CEO Elon Musk.

This news is of particular interest given the fact that to date, Farley has been adamant that the low-cost Ford EV is aimed squarely at cheap Chinese EVs, both in that country and other parts of the world where they’re sold or may be sold in the future. In fact, Farley previously stated that the inspiration for that new Ford EV came from a trip he took to China a few years ago.

Regardless, both Farley and Musk have previously stated that they see Chinese EVs as major threats to their business, perhaps even more so than each other’s companies. That’s precisely why Farley previously said that the company is betting its future on the skunkworks team developing that cheap Ford EV, which is expected to launch in late 2026 with a $30k price tag.

We’ll have more on Ford’s low-cost EV soon, so be sure and subscribe to Ford Authority for continuous 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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Comments

  1. Bill

    The charging network needs to expand further. Charging curves need further enhancements. Car companies need to move into a 800V platform which can enhance charging speed and reliability of charging stations as less amps are needed. Finally, the dealer network has to embrace and be willing to service EV. Customers need to be shown EV are good for them.

    Reply
  2. Mike

    What is the point of cheap electric cars? I’d bet most people that can’t afford one now, either live in an apartment without the ability to charge one or couldn’t afford to upgrade their house anyway. Wait until 10% of the houses on a single transformer want to add power to their houses and the transformer needs to be upgraded, or worse, a substation needs to be upgraded. Even people that can afford a lower cost ev will have a hard time paying for that. The US has been building our power grid for over 100 years, we’re not going to be able to upgrade it enough to make a difference for a long time. These idiots in California, who don’t have enough electricity now, won’t allow anything new to be built. And they want all electric in 10 years, what a joke.

    Reply
    1. EnHoSt

      If a transformer needs upgrade, that is up to The electric power company, isn’t it? I live in a community in FL where easily 10% of the homes have 1 or 2 EVs (I have two). Adding a 240v 4 prong outlet for my house was $400, hardly enough to break the bank and way less of what I have saved by not using gasoline. On your note of people living in apartments, totally agree with you. That is a concern that needs to be addressed. I don’t know where you get that CA doesn’t allow to build anything new. Is like those who say that the US is not drilling for oil anymore, but at the same time, the US is the biggest oil producer in the world. How can the two be the true?

      Reply
  3. Ronald Keith

    The price of Fords ” Affordable ” keeps going up first it was going to be 25k now it’s 30k. Pretty soon it’ll be unaffordable and the Chinese EVs will take over unless big tariffs are imposed.

    Reply
    1. EnHoSt

      100% rate tariffs are already in effect. Volvo postponed deliveries of EX30 because of this.

      Reply
  4. EnHoSt

    Love the term “Tesla Fighter”. Like the Mach-e was supposed to be a Model Y fighter…. Not even close. Elon Musk might be a super dick, but is a dick that outplays and outexecutes everyone.

    Reply

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