Ford Bets Fathom’s $28,350 Base Price Can Re-Energize the EV Market
Ford Bets Fathom’s $28,350 Base Price Can Re-Energize the EV Market
Ford will soon launch what it bills as a revolutionary, low-cost, long-range EVs. We get a 1st inside look at the Universal EV project.
When you’re posting nearly $20 billion in write-offs on your EV program it’s probably a good time to rethink what you’re doing. And that’s precisely why Ford Motor Co. launched the skunkworks Universal EV program designed to deliver “affordable,” long-range EVs that are also “fun to drive.” While the first version is still a year away, Headlight.News got a deep dive look at how the automaker plans to pull it off.
Sales have never lived up to expectation for the Ford F-150 Lightning, one of the market’s first all-electric pickups. The automaker idled production last month due to a shortage of aluminum and officials there reportedly are considering whether to scrap the nameplate entirely. Headlight.News has more.
Ford will invest $5 billion to set up its “Universal EV” program – and, it claims, completely transform the way vehicles are designed, engineered and manufactured. The test will come with the 2027 launch of a new, all-electric midsize pickup, said CEO Jim Farley, with a “targeted price of $30,000.” But there could be a cost in terms of long-term automotive employment, reports Headlight.News.
As it shifts to a new generation of “affordable” EVs, Ford Motor Co. will delay two other battery-electric projects, including the next-generation F-150 Lightning pickup. It may also look at adding hybrids and other products to what was supposed to be the all-electric Blue Oval City manufacturing complex outside Memphis, reports Headlight.News.
Ford’s push into affordable EVs appears to be coming a big step closer to reality, CEO Jim Farly planning to make a major announcement on August 11 at the automaker’s assembly plant in Louisville, Kentucky next week. It will be, the CEO suggested, “a Model T moment,” referencing the legendary vehicle that put Ford on the map more than a century ago. More from Headlight.News.
It may be the best-selling pony car on the market but the classic, gas-powered Ford Mustang coupe was outsold by the all-electric Mustang Mach-E last year. If anything, the EV gained significant momentum in 2024, something that one of Ford’s key competitors could take as encouragement as it launches its own, all-electric muscle car.
It wasn’t expected to be a good quarter for Ford Motor Co. Even then, the automaker’s second-quarter earnings managed to fall short of Wall Street’s expectations. That sent Ford shares tumbling by 11%, even though company leaders tried to assure investors they’re “on track” to deliver a full-year profit. More from Headlight.News.
Ford this week confirmed it will indefinitely delay the launch of a new, all-electric SUV to put more focus on hybrids. It’s also cut back on production of its F-150 Lightning pickup. But while some EV skeptics take these moves as a sign that the market for all-electric vehicles is waning, Ford actually saw a surge during the first quarter, notably for its Mustang Mach-E. Here’s how it charged up demand.
It’s official. Starting on Leap Day owners of Ford EVs will be able to plug into any of more than 15,000 Tesla Superchargers. That roughly doubles the number of public chargers that they previously had access to. With “charger anxiety” seen as one of the biggest obstacles to widespread EV adoption, Ford is hoping this will help up boost demand for its all-electric products. To make it even easier, Ford will begin shipping free Tesla adapters to its owners starting late next month.
After delaying billions of dollars in investments, Ford is shifting its EV strategy to put more focus on smaller, more affordable models – but ones that will also deliver quick profits, CEO Jim Farley said during an automotive conference in New York on Thursday. EV...