Ford to Produce Economical Electric Vehicles Priced Below $30,000 That Generate Profit

Ford Will Build Profitable, Affordable Sub-$30,000 EVs

Ford’s electric vehicle revenue has declined, but the company remains optimistic about the future. CEO Jim Farley emphasized the importance of affordable EVs, stating that Ford is well-positioned to offer them in their next generation of products. He assured investors that these new EVs will be profitable, and in the meantime, Ford is expanding capacity for their established hybrids like the F-150 PowerBoost and Maverick Hybrid.

Despite struggling to attract investors due to low share prices, Ford is confident in its fleet business and solid hybrid portfolio. The Mustang Mach-E is the second best-selling EV SUV in America, trailing only behind the Tesla Model Y.

Ford acknowledges the need to recalibrate their EV strategy, focusing on profitable sales and affordability. The recent price cut for the Mach-E resulted in a significant sales increase, revealing consumer demand for affordable EVs. Farley pledged that Ford’s upcoming EVs will meet these criteria, especially as Tesla’s rumored affordable “Model 2” EV seems uncertain.

Ford is seeing strong sales for its Maverick, F-150, F-250, and Ranger models, while also aiming to establish a profitable EV business alongside their traditional ICE vehicles. To appeal to a wider market and reduce emissions, Ford plans to introduce hybrids across all segments.

The company is determined to maintain a competitive edge in the affordable EV market, especially with other automakers like General Motors and Tesla making similar moves with their own EV offerings. Ford envisions being profitable at price points of $25,000 or $30,000.

Overall, Ford’s strategy focuses on delivering affordable and profitable EVs to meet market demand, while also offering a range of hybrid options to cater to different consumer segments and preferences.