TECH - 'Really An Incredible Person:' Jim Farley Says There's Respectful Rivalry With Tesla CEO Elon Musk Outlines How Ford Charts Its Own EV Course | Benzinga
Ford Motor Co (NYSE:F) CEO Jim Farley discussed the company’s distinct electric vehicle strategy compared to rivals and his professional relationship with Tesla CEO Elon Musk.
What Happened: Farley, in a Monday interview with Yahoo Finance, emphasized that the automotive industry will offer various powertrain options in the next 5 to 10 years, including EVs, hybrids, and even combustion engine vehicles for specific needs like towing. He acknowledged EVs’ importance but stressed they wouldn’t be the sole solution.
Profitability is paramount for Ford’s EV investments, Farley noted. He also highlighted that future Ford EVs will have lower price points to address customer demand for affordable electric vehicles. Electric vehicles are currently priced significantly higher than combustion engine vehicles due to the higher costs of manufacturing and batteries.
Despite being the second-largest EV seller in the U.S. market behind Tesla, Ford sees