Ford CEO says automaker plans to challenge Tesla as global EV leader

Ford CEO Jim Farley at the company’s Dearborn, Michigan, plant where it is setting up the electrical F-150 Lightning on April 26, 2022.

CNBC | Michael Wayland

DEARBORN, Mich. — Ford Motor has set its sights on topping Tesla in the race to develop into the global chief in electrical automobiles, CEO Jim Farley mentioned Tuesday.

The target is the most ambitious yet for the Detroit automaker in its EV force. Farley has earlier said Ford designs to be the country’s No. 2 automaker in EV sales, driving Tesla, by mid-decade.

“We approach to problem Tesla and all comers to grow to be the leading EV maker in the environment,” Farley mentioned all through a production launch occasion for the electric F-150 Lightning pickup. “That is some thing that no a single would have considered just two decades ago from us. They’re heading to appear at this truck and consider it.”

Farley failed to connect a time body to when the business thought it would overtake Tesla. He stated that will appear down to solution execution about the upcoming 4 several years, introducing that Ford has “each individual intention” of staying the leading electrical pickup maker in the environment.

“All we can regulate is the subsequent four yrs, the following cycle of item,” Farley advised reporters after the function, citing future new merchandise as nicely as investments in new materials of auto batteries and systems.

Tesla does have really a head start out, nevertheless. Farley mentioned Ford ideas to have the capacity of producing 600,000 EVs by 2023, such as 150,000 F-150 Lightnings and 200,000 Ford Mach-E crossovers. Tesla, by comparison, delivered far more than 930,000 EVs last calendar year.

But Ford explained it ideas to have the ability to deliver 2 million EVs globally by 2026.

What is more, Ford is at this time ramping up its manufacturing of the F-150 Lightning a lot quicker than rivals Rivian Automotive and Normal Motors.

Farley reported Ford has previously produced 2,000 F-150 Lightnings throughout the vehicle’s first two weeks of manufacturing at a plant in Dearborn, Michigan. Rivian, which started creation last slide, made about 2,500 autos, including R1T electric powered pickups, all through the to start with quarter.