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Ford Expects to Reach Tesla’s Numbers in the Global Electric Vehicle Market in the Coming Years. Is Elon Musk Worried About Ford’s New Goal?
With many countries working to reduce carbon emissions, the global race for increasingly efficient and cheaper electric vehicles is stepping up. Today, Elon Musk’s Tesla is the leader in the electric car market; however, companies like Ford are heavily investing in the sector, promising to ramp up the pressure on the South African billionaire’s company.
Last Tuesday, the 26th, Jim Farley, CEO of the American company, emphasized that Ford is working to take Tesla’s place as the global leader in electric vehicles.
Can Ford Surpass Elon Musk’s Tesla?
Ford’s new goal is clearly the most ambitious since the beginning of its investment in electric cars. Previously, the same CEO mentioned that Ford was aiming for second place in the United States, but that has changed.
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“We plan to challenge Tesla and all competitors to become the largest electric vehicle manufacturer in the world. This is something that no one would have believed just two years ago. They will look at this truck and believe,” said Jim Farley during a launch event for the electric pickup F-150 Lightning.
Jim Farley did not provide further details about the timeline the company expects to surpass Tesla: “All we can control are the next four years, the next product cycle,” he added.
Tesla Has a Significant Edge in the Electric Sector
Ford will have to work hard to overcome the advantage Tesla holds in the global electric vehicle market. Jim Farley noted that the company aims to have the production capacity of 600,000 cars by the year 2023. Just last year, Tesla delivered a total of 930 million EVs.
While Tesla has a significant edge, Ford highlights that it aims to have the production capacity of 2 million electric vehicles per year by 2026. Currently, the flagship electric vehicle of the company is the F-150 Lightning, which has seen a substantial increase in production.
Farley highlighted that Ford managed to produce 2,000 F-150 Lightnings during the first two weeks of vehicle production at a factory in Michigan, USA.
Tesla is the target of major companies in the sector worldwide. Besides Ford, recently, BMW stated that Elon Musk’s company’s leadership in the sector is coming to an end. Pieter Nota, sales director of the BMW Group, declared that the German company expects that by 2030, 50% of its sales will be electric cars.
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