According to Ford CEO Jim Farley, the company has set its eyes on overtaking Tesla as the world powerhouse in electric vehicles.
The target is the most ambitious of the Detroit automaker’s EV push so far. Ford aims to be the country’s No. 2 carmaker in EV sales by mid-decade, behind Tesla, according to Farley.
During a manufacturing opening ceremony for the electric F-150 Lightning pickup, Farley stated, “We aim to battle Tesla and all competitors to be the top EV maker in the world. Two years ago, nobody would have believed us if we said something like that. They’re going to believe it when they see this truck.”
Farley did not provide a timeline for when the firm expects to overtake Tesla. He stated that product execution within the next four years will determine this and that Ford has “every intention” of being the world’s leading electric pickup manufacturer.
“All we have control over is the next 4 years, the next product cycle,” Farley said after the event, stressing future new goods and also investments in new car battery and technology sources.
Tesla, on the other hand, has a significant head start. Ford wants to produce 600,000 electric vehicles by 2023, comprising 150,000 F-150 Lightnings as well as 200,000 Ford Mach-E crossovers, according to Farley. Tesla, on the other hand, delivered over 930,000 electric vehicles last year.
Ford, on the other hand, has stated that by 2026, it expects to be able to manufacture 2 million electric vehicles globally.
Furthermore, Ford is accelerating production of the F-150 Lightning quicker than Rivian Automotive and General Motors.
Ford has already built 2,000 F-150 Lightnings in the first 2 weeks of manufacturing at a facility in Dearborn, Michigan, according to Farley. Rivian, which began manufacturing last October, produced around 2,500 vehicles in the first quarter, including R1T electric pickups.
The first mass-market all-electric passenger vehicle to emerge from the Ford Cologne Electrification Centre is going to be a 5-seat, medium-sized crossover, according to Ford. Sports utility vehicles and crossovers contributed about 58% of all Ford passenger vehicles sold on the continent in 2021, up over 20% from 2020.
Ford’s all-electric crossover pushes the company’s boundaries. The car, which will have a 500-kilometer driving range on a single battery charge, will be unveiled later in the year 2022, with production starting in 2023.
With the announcement today that a second all-electric passenger car – a sports crossover – will be produced at the Ford Cologne Electrification Centre, electric vehicle output at the plant will expand to 1.2 million vehicles over the next six years. The latest electric passenger vehicles, which will be constructed in Cologne, are projected to cost $2 billion. A new battery assembly factory is expected to open in 2024 as part of the investment.