$20 billion on top of $30 billion already committed
Ford is reportedly putting former Apple and Tesla executive Doug Field in charge of the reorganization, which will include converting its factories from gas-powered to electric vehicle production and hiring more engineers.
Ford is immeshed in a high-stakes race against its rivals as the auto industry struggles to catch up to Tesla Ford is immeshed in a high-stakes race against its rivals as the auto industry struggles to catch up to Tesla, the most valuable automaker in the world and the top seller of EVs. While Ford sells more F-series trucks every year than Tesla’s entire output, investors have rewarded Elon Musk’s vision of an all-electric future with a significantly higher share price and more confidence about his company’s prospects.
Ford CEO Jim Farley is trying to change that narrative with an effort to show that his company can compete. Ford recently announced that it wasof its upcoming electric pickup truck, the F-150 Lightning, and tripling production for the Mustang Mach-E, with the expectation that it will reach over 200,000 units per year by 2023. Ford’s electric delivery van, the E-Transit, also goes on sale early this year.
As long as they start shipping on time, Ford will join Rivian and GMC as the only automakers with an electric pickup truck on the market. (Rivian started
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
2021 Ford F-150 Raptor, 2023 Ferrari Purosangue, 2024 Ford Mustang GT3: Car News HeadlinesOur F-150 Raptor review, Ferrari's crossover, and a new Mustang variant all made headlines today.
Read more »
Review update: 2021 Ford F-150 Raptor levels up control and comfortThe high-speed off-roader improves, but the competition has as well.
Read more »
Are Auto-Dealership Protection Laws Holding Back Electric Vehicle Adoption?Everyone who’s been following the story of Tesla is well aware of the war between the iconoclastic automaker and the country’s hidebound auto dealerships. After a decade of highly colorful struggle and strife (which I
Read more »
45,596 Bitcoin Moved in Just Two Minutes: DetailsMassive amount of Bitcoin has been transferred in merely two minutes between anonymous wallets
Read more »
Peeling paint shifts billions from Airbus to Boeing in massive deal with QatarQatar Airways took Airbus to court in London in December alleging that the paint on the A350 aircrafts was cracked and peeling.
Read more »
Elon Musk and his fans complain that Biden is overlooking TeslaSome of Tesla's loyal band of devotees and CEO Elon Musk say the White House has been unfairly snubbing America's top-selling electric vehicle brand.
Read more »