Plans to build profitable, affordable all-electric cars priced under $30,000

Ford reported a drop in electric vehicle revenue on Wednesday, but executives were upbeat about earnings.

CEO Jim Farley confirmed that what the market wants are affordable electrics, and Ford is well positioned to deliver them in the next generation of products. It will be profitable, he promised.

The company is one of the cheapest in the world in terms of its share price relative to its earnings, a sign that investors have little confidence in the core business. But Ford’s deep-rooted fleet business is huge, its hybrid portfolio is solid and in demand, and the Mach-E EV is the second best-selling EV SUV in America, behind the Tesla Model Y.

The Maverick, F-150, F-250 and Ranger are all selling quickly and are on track to build a profitable electric business as the ICE business continues to generate cash flow, the company says. To keep the business relevant and reduce emissions, Farley says Ford will have hybrids in every segment.

“What’s really exciting for us is that we’re seeing an opening in the market,” Farley said. “We think we can be profitable with $25,000 or $30,000.”

Antonis Giagzoglou is a journalist with many collaborations in online media. He writes about new technologies and technologies that improve our lives while working with advertising agencies and managing business social media.

Antonis Giagzoglou

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