Ford has made new shifts in its pricing strategy for its electric vehicle (EV) lineup as the company’s CEO has now stated to make affordable EVs during its recent Q1 earnings call. 

Ford’s CEO Jim Farley stated the importance of affordable EVs, where it plans to price its new range of affordable EVs between $25,000 and $30,000. With this level of price point, the accessibility of Ford’s affordable EVs will be open to more buyers in the automotive landscape. 

The change of plans from Ford comes after Tesla’s own plans to make affordable Tesla models of its own by 2025. Ford also addresses that it is still focused on its EV expansion plans and that the affordable price points for its affordable EV models would address the key to widespread EV adoption in the United States (U.S.). 

Ford’s CEO Jim Farley expressed the importance of affordability in its EV lineup stating, “The more affordable we can make a great product, the more attractive it is to these mainstream EV adopters,.”

The move from Ford is now trending within big names in the automotive landscape, where affordable EVs are being considered after Tesla made the first move. Ford has popular EV models like the F-150 Lightning and Mustang Mach-E that already makes them standout, adding affordable EVs will certainly set them apart from the rest. As the price point added by Ford’s EVs is planned between $25,000 and $30,000, the potential growth for Ford with this enticing price point makes it seemingly viable. 

As profitability is the main target for Ford with its EV lineup, the company’s actions to reach financial stability through its EVs are recognized. With more pricing strategies being made in the EV market, the key players in increasing the demand for EVs will rely on them to forward the transition towards electric mobility. 

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