New Ford “cheap” EV.
According to CEO Jim Farley, Ford has been working on an all-new EV platform for the past 2 years. They created a special team called Team Edison to create this new, much cheaper-to-produce platform for future more affordable EVs.
Ford sees its main competition as Tesla, of course, and the many Chinese companies already offering much cheaper electric models worldwide. Mr.Farley said “EVs are here to stay, customer adoption is growing, and their long-term upside is central to Ford+. The customer insights we’re getting by being an early mover in electric pickups, SUVs, and commercial vehicles are invaluable, especially as we’re developing next-generation EVs that will surprise customers and be profitable within a year of launch.”
Being “profitable within a year of launch” is key, and something Ford hasn’t been able to achieve yet. The next-generation Mustang Mach-e is still on track for a July 2026 start of production in Mexico. And a second electric truck model is still on its way. There were earlier talks of a larger 3-row EV SUV being developed for Ford and Lincoln, but we haven’t seen anything yet.
It is unclear if the new “cheaper” platform will replace the 2nd generation EV platform they’ve been working on or not. If it’s the case, products based on that platform could be delayed.
Either way, it’s great to see Ford trying hard to compete. Tesla is coming up with their own cheaper car next year. Starting production in Texas, and later in the new Mexican factory. The rumored $ 25,000 Tesla would disturb the market once again. Even at $ 30,000 before incentives, it could be a phenomenal success, since it would still mean a $ 20,000 cost after incentives for most buyers.
Chinese manufacturers aren’t seeing cars directly in the US yet, but they are more and more important around the world, year after year. They are also quickly gaining market share in Europe. And BYD is even building a factory in Hungary to avoid tariffs and lack of incentives available from the European Union.
There is a huge car war brewing, and there will be plenty of losers. Ford is doing what they can not to be one of them…