Ford reveals $30k starting price for new budget-friendly EV range
The new midsize four-door pickup will be assembled at the carmaker's Louisville, Kentucky, plant. Ford is investing nearly $2bn (R35,494,760,000) in the plant, which produces the Escape and Lincoln Corsair, retaining at least 2,200 jobs, it said.
Chinese carmakers such as BYD have streamlined their supply chain and production system to produce EVs at a fraction of the cost of Western carmakers. While the vehicles have yet to enter the US market, Ford CEO Jim Farley said they set a new standard that companies such as Ford must match.
"I can't tell you with 100% certainty this will all go right," Farley told a crowd at Ford's Louisville assembly plant on Monday, noting past efforts by US carmakers to build affordable cars had fizzled. "It is a bet. There is risk."
Ford has been developing its affordable EVs through its skunkworks team filled with talent from EV rivals Tesla and Rivian. The California-based group, led by former Tesla executive Alan Clarke, has set itself so much apart from the larger Ford enterprise that Farley said even his badge could not get him into its building for some time.
EVs sold for an average of about $47,000 (R834,545) in June, JD Power data showed. Many Chinese models sell for $10,000 (R177,562) to $25,000 (R443,907). Affordability is a top concern for EV shoppers, auto executives have said, and the global competition for delivering cheaper electric models is heating up.
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