- As Ford continues to transition to an electric lineup of vehicles, CEO Jim Farley has written a confession piece, of how, as a lifelong petrolhead, he has turned to fall in love with electric vehicles.
- Farley only came into position as Ford’s CEO fairly recently, in 2020, previously working at manufacturers such as Toyota and Lexus. but under his leadership, the manufacturer has seen the release of EVs such as the F-150 Lightning and Mustang Mach-E.
- As a CEO, Farley said he felt the need to tell consumers ‘the truth’ about EVs, and dispel disinformation.
Ford CEO is all for EVs
Farley posted the full confession onto his LinkedIn profile, of which you can read the full length here. He compared the current resistance seen to EVs as similar to previous technological advancements, such as when the internet was seen as a passing fad – and said that increasing numbers of consumers will be naturally drawn to EVs over combustion models, as they increasingly become cheaper to buy, and better to charge. Farley also noted Ford’s own research, which found that in the USA, roughly 50% of drivers took journeys of over 150 miles four days or fewer per year – much less than the range capability of Ford’s own EVs, such as the Mustang Mach-E.
He also acknowledged that currently, the company isn’t turning a profit on its electric vehicles, primarily due to the high upfront investment costs of electrification, but notes that the tide is changing. Just last week, Farley noted that it will be ‘crucial’ for the company to begin turning a profit on its EV sales in the next five years, as other established manufacturers, such as Stellantis, begin to make EV sales profitable. The release of a $30k Ford EV, which will be its cheapest yet, is set to arrive by 2027. This model, likely to be a worldwide release, could be Ford’s ‘Model T’ moment for the electric age, convincing yet more of the benefits of EVs.
One extract from Farley’s piece, wrote:
“It wasn’t government policies or political beliefs that sparked this late-career romance with electric vehicles. It’s because I drive one – my Ford F-150 Lightning Platinum. It is astonishingly quiet and smooth. The effortless acceleration leaves you with a silly grin once you get the feeling back in your face. Every morning, mine is topped up with 300 miles of range. No gas stations, ever. What’s more, my F-150 Lightning has a massive, lockable frunk to go along with the pickup bed. And the Lightning works like a mobile generator that can power a worksite, campsite, tailgate, or even another electric vehicle, or power my home.”
It’s not just Ford that is attempting to appeal to traditional petrolheads with some of their new EVs. Porsche’s updated Taycan is also seen as a great stepping stone, while Hyundai’s IONIQ 5 N also attempts to appeal, with features such as simulated gear changes and engine sounds.