Ford Released New Info On Their EV Plans
While many car makers are struggling to meet goals due to lack of supplies, Ford recently said they’re still on track for their EV goals despite outages.
Written by Lauren Smith
Reviewed by Kathleen Flear
Ford
is shooting for the stars when it comes to their EV plans. With battery scarcity and high prices for minerals like nickel and cobalt all needed to create EVs, some are skeptical about Ford’s plans to produce high amounts of EVs. However, recent plans from Ford’s CEO show that they expect to meet their 2026 goals despite scarcity by following in Tesla’s footsteps for production and sales.Jerry
, the car insurance brokerage app, is here with all the details about Ford’s plans to meet their goals, why they aren’t concerned about supplies, and what their current EV lineup includes.Ford’s plans to improve margins
Ford has some ideas to improve its profit margins to help with this EV expansion. One is to separate their EV lineup from their internal combustion engine lineup and reorganize the company accordingly.
The other is to take a page from Tesla’s playbook to focus on upgrades internally instead of externally. Ford, generally, revamps their exterior engineering every five to seven years. This body engineering is costly as it requires new sheet metal body panels and underpinning.
By simplifying the upgrades and new offerings to internal parts like software, engines, and batteries the way Tesla does, Ford hopes to improve their profit margins by 10%.
The final plan they’re working on is with dealerships. Several EV companies like Tesla sell directly to consumers. Due to state laws protecting dealerships, Ford can’t follow the same model.
However, they think that they might be able to adjust how much dealerships have on their lots. They can change the system so customers can go to a dealership, learn more about the Ford EV and other offerings, test drive, and then order from home if they want.
Why would they want to do this? Because by having dealerships part of the equation, Ford loses between $1,200 and $2,000 for every car sold. Ford believes the benefits for dealerships are high since they won’t have as many expensive products on their lots.
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EV battery shortages are no concern for Ford
While EVs are in limited supply due to EV battery shortages, according to Ford, they have plenty stockpiled to meet their short-term goals.
By 2023 that’s 600,000 EVs. And for the future, they plan to make and sell two million EVs annually by 2026. To meet this goal, they have secured about 70% of what they need to make that plan a reality.
Ford’s current EV lineup
Ford currently offers three electric vehicles in their line up
the F-150 Lightning
, Mustang Mach-E, and the E-transit. The F-150 Lightning is an electric truck offered by Ford and arguably their most popular in the line-up. It offers innovative features like an onboard generator with enough power to generate your home if the power goes out for three days. It also has 11 outlets to plug whatever you need in, so if you want to have a movie night while camping you can plug-in and do so while also microwaving some popcorn. It has a 320-mile range, and 563 horsepower. It’s capable of offroading and towing up to 10,000 lbs. The price tag for this sold-out electric truck starts at $39,947.
The Mustang Mach-E is an electric SUV starting at an MRSP of $43,895. This electric SUV, is also currently sold out but if you’re lucky enough to find one hidden away at a dealership you can expect to go for an estimated 314 miles range.
Their third EV, the E-transit, has seating for two and starts at $46,295. It’s available in different trims, sizes, and models to better suit those who plan to use this commercial van. Out of these three models, only the commercial van is readily available. The rest depends on what’s hiding away on local dealership lots.
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