Ford Motor Co (NYSE: F) CEO Jim Farley mentioned on Tuesday the legacy automaker goals to problem Tesla Inc (NASDAQ: TSLA) because it seems to spice up its lineup of electric-vehicle choices.
What Occurred: Ford is on observe to ship over 2 million electrical automobiles a 12 months by 2026 and is engaged on one other electrical pickup, Farley mentioned on the product launch occasion for the electrical F-150 Lightning pickup being held on the Rouge Electrical Automobile Middle at its Dearborn, Michigan plant.
“We’re already pushing dust down in Blue Oval Metropolis in Tennessee for one more electrical pickup truck that is completely different from this one,” Farley mentioned.
“We’ve got each intention of being the primary electrical pickup maker after which with the massive investments of $50 billion in EVs, battery manufacturing, and our expanded lineup —which you haven’t seen but— we plan to problem Tesla to turn into the highest EV maker on this planet.”
Ford had final 12 months mentioned it’s anticipating to supply 600,000 electrical automobiles a 12 months by the top of 2023, twice its unique plan.
As compared, Tesla delivered almost 1,000,000 automobiles in 2021.
The automaker on Tuesday started business manufacturing for the Lightning vehicles. F-150 Lightning is Ford’s first massive transfer in direction of electrification after it launched the Mustang Mach-E in December 2020.
See Additionally: Ford Reportedly Set To Announce Separation Of Electrical Automobile Unit At present
Why It Issues: Apart from doubling down on electrical manufacturing targets, Farley is now aiming greater with ambitions to make sure the legacy automaker dominates the electrical car house within the coming years.
Ford final month mentioned it’s going to cut up EVs and legacy autos into separate models because it spends billions on electrical automobiles.
See Additionally: Ford Emphasizes Tesla-Like Technique, Says On-line Gross sales To Be A ‘Larger Half’ Of Its Future
Value Motion: Ford closed 3.2% decrease at $14.7 on Tuesday.
Picture courtesy: Ford
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