Ford’s Smaller and Cheaper Electric Vehicle Platform Takes on Tesla and Chinese Rivals
Ford’s Smaller and Cheaper Electric Vehicle Platform Takes on Tesla and Chinese Rivals
Will Ford’s smaller and cheaper EV platform be the game-changer the industry needs to shake up Tesla’s dominance?
Ford is revolutionizing the electric vehicle (EV) market by developing a new platform that will rival Tesla and Chinese competitors. CEO Jim Farley announced the project during the company’s financial report, highlighting its potential to support multiple vehicle types and software and services.
To compete with Tesla and Chinese rivals, Ford is working diligently to develop a smaller and more affordable electric vehicle (EV) platform. In their recently released financial report, CEO Jim Farley announced that a team of highly skilled engineers has been working on this project for the past two years outside of the company’s traditional framework. The aim is to create a platform that can be used for multiple types of vehicles while also serving as a foundation for innovative software and services. This demonstrates Ford’s commitment to cost-effectiveness and efficiency in their EV products.
Tesla’s ‘affordable’ model has been eagerly anticipated, and Ford is determined to give it a run for its money. Currently planned for production in 2025, Tesla’s US$25,000 (A$38,000) model is expected to be a game-changer in the EV market. Last year, Tesla accounted for a staggering 55% of the battery-powered vehicle sales in the United States, solidifying its dominance in the industry. Ford, on the other hand, sold a modest 72,608 EVs in the US in 2023, representing a mere 6% market share. The F-150 Lightning pickup, Mustang Mach-E SUV, and E-Transit van were the primary contributors to Ford’s EV sales.
Ford is not only focused on the US market but also has plans for expansion in Europe. Three new EVs are set to launch, including an electric version of the Puma and two SUVs based on Volkswagen’s MEB platform. One of these MEB-based models will bear the iconic Explorer nameplate. These additions will join the already popular Mustang Mach-E, as well as the E-Transit and E-Transit Custom vans. Ford’s commitment to EVs is not limited to Europe and the US; they also sell the Territory EV in China, a rebranded version of the Yusheng S330 developed in partnership with JMC.
In Australia, Ford’s EV offerings are currently limited to the E-Transit and Mustang Mach-E, priced at $104,990 and $72,990 respectively before on-road costs. However, there is good news for Australian EV enthusiasts, as the electric Puma is set to arrive this year. Ford’s commitment to expanding its EV range globally shows the brand’s dedication to sustainable transportation and staying ahead in the rapidly evolving automotive industry.
- Ford is developing a smaller and cheaper EV platform to compete with Tesla and Chinese automakers.
- The platform will be flexible and adaptable to different vehicles.
- Ford’s goal is to create affordable and efficient EV products.
- Tesla currently dominates the US EV market.
- Ford plans to launch three new EVs in Europe, including an electric version of the Puma.
- In Australia, only the E-Transit and Mustang Mach-E are available, but the electric Puma is coming soon.
With its new smaller and cheaper EV platform, Ford aims to challenge Tesla’s dominance and compete with Chinese rivals. By prioritizing cost-effectiveness and efficiency, Ford is poised to make a significant impact in the EV market. The upcoming electric Puma and other new EV models signal Ford’s commitment to expanding its global EV offerings and providing affordable and sustainable transportation options.
