Unpacking The Jim Farley Interview With Bloomberg
, the legacy US automaker that seems most committed to pushing the EV revolution forward. This week, Ford CEOto answer questions on a broad spectrum of topics. Here are some excerpts from that conversation.Farley began the interview by alluding to how Henry Ford originally structured the company more than 100 years ago. He valued self sufficiency and wanted to source all the resources needed to produce automobiles internally.
“Vertical integration is going to be the theme of the day, because the gearboxes, the electric motors, the inverters, the whole electrical architecture, we farmed out to all of our suppliers for decades. We’re bringing all that in now, inside the company. It’s hard, but it helps with the costs, and we think all those are difference-makers. We want to be doing those things and solving the hardest problems at Ford.
Asked about Ford’s plan to reach an 8% profit margin on its electric vehicles and get near Tesla’s gaudy, industry-leading profit margins, Farley had this to say. “What we have to do as a company is reduce the bill of material cost. So on Mustang Mach-E, we’ve gotten the cost of the vehicle down $5,000 this year. We’re going to need to do the same thing, and even faster, on our second-generation product.”to build a battery factory in Michigan. That happened after Glenn Youngkin, the governor of Virginia, told Ford and CATL to take their clean energy jobs and shove ’em.
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.
Tesla CEO Elon Musk, Ford CEO Jim Farley to host Twitter Spaces talk about EVs ThursdayThe online discussion between rivals comes as Ford attempts to ramp up production of its EVs in an attempt to catch up to Tesla's sales.
Read more »
Ford EVs will be able to use Tesla charging stations under new agreementFord Chief Executive Jim Farley and Tesla Chief Executive Elon Musk held a Twitter Spaces livestream to reveal the agreement.
Read more »
Ford CEO says China main EV rival, not GM, ToyotaFord Motor Co CEO Jim Farley said on Thursday Chinese electric vehicle makers are its main rivals in the sector, but the company has hurdles competing on cost at a smaller scale.
Read more »
Ford electric vehicle owners to get access to Tesla Supercharger networkFord CEO Jim Farley and Tesla CEO Elon Musk announced the agreement Thursday during a “Twitter Spaces” audio chat.
Read more »
Elon Musk, Ford CEO announce surprising electric vehicle partnershipICYMI yesterday in a Twitter Spaces conversation elonmusk and Ford CEO jimfarley98 announced Ford drivers will be able to use Tesla's Supercharger car charging network starting in 2024. More from writeEILEEN and JakeLingeman ⬇️
Read more »