Ford CEO Highlights Challenges Facing Large Electric Vehicles

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Ford CEO Jim Farley has raised concerns about the viability of larger electric vehicles (EVs), stating on the company’s fourth-quarter earnings call that "the economics are unresolvable" for these models. Farley noted that consumers with specific needs—such as towing or off-roading—find large EVs inefficient due to their weight and poor aerodynamics, which necessitate larger, costly batteries. For instance, the base price of the F-150 Lightning is approximately $62,995, while the GMC Sierra EV starts at $89,995, with similar high price points for other large EVs.

As the market for EVs has slowed, Ford has adjusted its strategy, opting to focus on small to medium-sized electric vehicles that offer a better business case. Farley remarked that customers are unwilling to pay a premium for large EVs, making their production challenging. In response, the automaker plans to develop a new midsize all-electric truck. Despite these adjustments, Ford continues to support electric power for its larger commercial vehicles as they can utilize depot charging stations effectively. Industry analysts are watching closely to see if this shift will lead to sustainable growth for Ford.

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