Ford President Kumar Galhotra tells Fox News Autos Gary Gastelu that the carmaker is in a good position to take advantage of Biden’s plan to electrify the federal vehicle fleet.
Ford is growing batteries with battery power.
The carmaker has announced a near doubling of its planned investments in electric vehicles by $ 2025 by 2025, which will keep it at the same level as General Motors and about half of what analysts expect Tesla to spend during the period, according to Morgan Stanley see Adam Jonas.
But even though its American EV competitors have been selling electric cars for years, Ford is just starting out.
As of January, he had only delivered 241 of his first purpose-built EV, the Mustang Mach-E, to U.S. customers. But it also put 5,000 in the pipeline last month, and they fly an average of four days off the yards, even if the Tesla Model Y is too strong.
This is partly due to one advantage Ford has and the upcoming entry into GM in the segment, and it should be at least the rest of the year.
Every electric vehicle in the US, including plug-in hybrids, entitles the buyer to a federal tax credit worth up to $ 7,500, depending on the size of his battery, but once a business reaches 200,000 units, the credit phase resells the half and the half. before you are completely gone in the course of a year.
GM – which has sold the Volt plug-in hybrid and Bolt EV over the past decade – and Tesla have each reached the threshold in 2018, so their cars are no longer eligible for the program. Ford’s is.
Jim Farley, CEO, revealed during the company’s earnings call in the fourth quarter that, having previously offered plug-in hybrids, he qualified for lower amounts and a handful of full electricity, another 127,000 have full credits. This amounts to a $ 952,500,000 incentive program funded by taxpayers before the phasing-out period, which does not limit the volume.
This has enabled Ford to price the Mustang Mach-E at what he says is a lucrative level while still interrupting competition. The cheapest Select model starts at $ 35,395 after the credit and the premium Premium at $ 39,500, while the entry-level model Y costs $ 41,990. Even the smaller Chevrolet Bolt EV has a list of $ 36,500, but Chevy recently offered traditional incentives worth $ 5,000 and more.
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Ford is obviously not the only company in this position. Nissan, which offered the first electric car with the Leaf in 2010, still has about 50,000 credits left before the launch of its new Arya later this year, and Volkswagen has almost the full amount, as it sells the $ 32,495. ID.4. Both models will compete in the same segment as the Mustang Mach-E.
However, Ford will add the full-electric eTransit commercial van to the range before the end of 2021, and according to Farley, which should reduce some of its sales, it will have an electric version of the F-150 in the middle of add next year. in the incentive period.
In addition, Ford has not said much yet about what he plans for electricity, but Farley said he will release more information somewhere this spring.