They will leave the $100k+ market to other makers.
Farley, Ford’s new CEO, also wants to work on overall quality of the product.
Now that Ford’s new CEO, Jim Farley has stepped into his position, he has outlined some of his goals for the Blue Oval and they include reducing warranty costs by improving the quality of their vehicles and ramping up EV production.
Wards Auto reports that Ford has no plans to build and sell $100k+ EVs in the future: “We are not going after the $100,000-plus market. These are affordable vehicles,” Farley says, adding Ford EV prices in the U.S. and Europe will range from $20,000 to $70,000 and include CUVs and CVs.”
Ford has four assembly plants earmarked for building EVs including the soon-to-be-retooled Oakville, ON, facility. As well, and as we know, Ford is gearing up to launch the full-electric version of their Transit on November 12th. According to the source story, this is the first of many.
Farley says Ford will work hard to improve their quality: “Our warranty coverages in the last few years is up $1 billion to $2 billion depending on the year, and that is not okay,” Keeping these costs down is critical in a time when immensely important vehicles such as the new 2021 Ford F-150, Bronco and Mustang Mach-E are on their way.