Despite the efforts of various automakers in the United States to build electric vehicles, as well as the strict emission regulations slowly being adopted in some states, there are plenty of reasons why car buyers won’t switch to EVs.
Aside from the limited range that an EV can deliver compared to a gas-powered car and the lack of charging infrastructure across America, the steep price point also serves as a deterrent.
This is exactly what Ford wants to address. Newly appointed CEO Jim Farley said the company is working on releasing more affordable EVs in the market instead of the usual six-figure models in the market.
“We are not going after the $100,000-plus market. These are affordable vehicles,” Farley said in a call with investors, where he touched on the Blue Oval’s future plans on electrification.
Farley also said that he expects the company’s future EVs to account for more than 10% of its revenue. Although at the moment, Ford has not been hard at work in the production of electric vehicles as much as General Motors is.
What’s clear, though, is that the automaker has concrete plans to release more models in the future. It started with the arrival of the Ford Mustang Mach-E this year and will be followed by the all-electric Transit commercial van this month, as well as the F-150 EV in 2022.
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