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Friday, 06 November 2020 21:49

Ford CEO Pledges to Keep EV Lineup Affordable With No 'Six-Digit' Prices

Written by Simon Alvarez, Teslarati

Index

With the electric vehicle segment becoming more and more crowded, Ford has announced its upcoming EVs will be priced quite aggressively.

In what seems to be a subtle dig at the $112,595 GMC Hummer EV, CEO Jim Farley noted that Ford would not be releasing electric vehicles in the six-figure range. Instead, Ford’s EVs will be as affordable as possible. 

 

“We are not going after the $100,000-plus market. These are affordable vehicles,” Farley said in a statement to Wards Auto

 

Farley later noted that the lineup of Ford EVs he has in mind would be priced between $20,000 to $70,000 before options. This is a very aggressive target, considering even EV leader Tesla is still in the process of lowering its production costs to such a degree that it could release a $25,000 car, a vehicle that’s more affordable than the Model 3, the company’s current entry-level vehicle. 

 

Interestingly enough, Farley did not elaborate if his $20,000 to $70,000 price range estimate includes government incentives. Unlike Tesla and longtime rival GM, after all, Ford is yet to exhaust its government incentives, so customers of vehicles like the Mustang Mach-E will still be able to take advantage of the U.S. government’s $7,500 tax credit. 

 

Farley’s recent statements bode well for the upcoming Ford F-150 Electric, a vehicle that is being promoted as a “real” work truck. Considering the CEO’s statement, it appears the Ford F-150 Electric’s most expensive variant will start at around $70,000, allowing it to compete directly with the Tesla Cybertruck, at least in price. The Cybertruck’s tri-motor variant, which boasts more than 500 miles of range per charge, starts at $69,990.
 
As noted in an AutoBlog report, it is quite challenging to speculate how Ford intends to...


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