Ford CEO Jim Farley criticized Tesla’s Cybertruck, stating that it is designed for “Silicon Valley people,” while Ford’s F-150 Lightning is meant for “real people who do real work.” Despite the criticism, Ford recently partnered with Tesla to provide access to Tesla Superchargers for F-150 Lightning drivers. Farley mentioned that Ford is the market leader for EV trucks and vans and understands its customers better than anyone else.
Farley’s comments came after better-than-expected earnings were announced. He emphasized that although Tesla’s electric truck venture may impact Ford’s customers, America loves an underdog, and Ford is confident in its position as a leader in the EV truck market.
The Cybertruck, set to be released by the end of 2023, will have two models priced at $60,000 and $70,000, respectively. Farley described the Cybertruck as a “cool high-end product” that is different from Ford’s trucks designed for practical, hard-working individuals.
Although Ford experienced lower sales than projected for the F-150 Lightning, Farley expressed confidence in achieving a positive margin of 8% in the EV category by the end of 2026. Ford reported quarterly revenue of $41.5 billion, surpassing estimates.
Despite Farley’s criticism of the Cybertruck, he stated that Ford had no hesitation in partnering with Tesla because it benefits Ford’s customers. Through the partnership, F-150 Lightning drivers will gain access to Tesla Superchargers.
In conclusion, Farley’s remarks highlight Ford’s commitment to providing EV trucks for individuals who value practicality and hard work. Despite competition from Tesla’s Cybertruck, Ford remains confident in its position as a market leader and its understanding of customer needs. The partnership with Tesla further demonstrates Ford’s dedication to benefiting its customers through expanded charging infrastructure.
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