Ford places great emphasis on electric vehicles and is trying to take away Tesla’s market share

Ford Motors on Wednesday urged nearly 3,000 of its dealerships to invest in its push toward electric vehicles. The American automaker has prioritized cutting costs and eyeing higher profits to compete with industry leader Tesla, which owns about 68% of the EV market share in the US

Ford relies on its dealers to market its vehicles. Unlike Ford, Tesla and other EV manufacturers sell directly to customers.

“We rely on the dealers. We will not proceed directly. But we have to specialize,” said Ford boss Jim Farley.

Farley’s goal is to convince dealers to develop custom built-to-order vehicles, which is better for business and could help reduce the cost of delivering Ford electric cars and trucks by around £2,000 lower US dollar.

Under two programs, Ford is inviting dealers to invest either $500,000 or over $1 million to become “EV Certified.” According to executives, the higher tier dealerships would gain “elite” status and receive more electric vehicles.

Ford gave dealers six weeks to make a decision and invest by the end of the year. The company has given dealers an ultimatum: either buy into the EV Vision or lose.

Dealers who take advantage of the opportunity this year will not be able to sell all-electric Ford vehicles for three years, the company said.

They will be able to revise their stance in 2025, and provided dealers meet the set requirements, they will be allowed to start selling EVs in January 2027.

Earlier this year, Ford announced a split between its electric vehicle efforts and its motor-powered cars.

Ford’s current lineup of all-electric vehicles includes the Ford F-150 Lightning pickup, the Mustang Mach-E crossover and the e-Transit van. The company is expected to expand its EV offering globally as part of a strategy to invest $50 billion in the technologies by 2026.

President Joe Biden will attend the Detroit Auto Show on Wednesday to meet with automakers, with electric vehicles taking center stage. Last week Treasury Secretary Janet Yellen visited a Ford factory in Dearborn, Michigan. She reiterated the Biden administration’s economic priorities and commitment to electric vehicles.

https://www.ibtimes.com.au/ford-goes-big-electric-vehicles-makes-push-cut-teslas-market-share-1838350?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Ford places great emphasis on electric vehicles and is trying to take away Tesla’s market share

Fry Electronics Team

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