{"id":49072,"date":"2023-05-06T12:03:20","date_gmt":"2023-05-06T16:03:20","guid":{"rendered":"https:\/\/autosector.com\/?p=49072"},"modified":"2023-05-06T12:03:20","modified_gmt":"2023-05-06T16:03:20","slug":"elon-musk-praises-ford-ev-startegy","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=49072","title":{"rendered":"Tesla CEO Elon Musk Praises Ford’s EV Strategy"},"content":{"rendered":"

Tesla CEO Elon Musk has complimented Ford’s EV strategy, stating that overall its “smart”. Musk replied to a tweet discussing Ford’s negative net margins on its EVs, stating that margins are always tough for new models.\u00a0\u00a0<\/p>\n

For every EV it sells, Ford<\/a> is currently losing 40% on average. Worryingly, the Blue Oval is only projected to improve this negative margin by 20% in the future. Meanwhile, Tesla<\/a> makes a\u00a015-25% gross margin on every EV it sells. As for Tesla’s net margin, it lies at roughly 10%.<\/p>\n

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Ford recently announced a\u00a0$1.5-$2 billion restructuring plan that will help its EVs reach profitability. Arguably the biggest change being introduced is a new staffing structure. It will see the bulk of Ford’s engineering talent being relocated from Asia and Europe to the US.<\/p>\n

<\/section>\n

This is not the first time Elon Musk has shown support for Ford. Back in 2021, Musk congratulated Ford on the launch of the F-150 Lightning<\/a>. He also Tweeted enthusiastically about the Mustang Mach-E<\/a> following its reveal back in November 2019.\u00a0<\/p>\n

\u00a0<\/section>\n

Ford hopes to increase its annual EV production capacity to\u00a0600,000 units by the end of the year. For now, sales primarily consist of the Lightning and Mach-E with the\u00a0E-Transit having a steady amount of commercial demand. However, the upcoming Explorer EV<\/a> has the potential to be a future best-seller.<\/p>\n

A compact crossover with up to 335 miles of range, the Explorer EV will be a compelling option for European and Asian consumers. Unfortunately, Ford has no plans to sell it in the US for now. That said, in the near future a larger variant similar in size to the ICE Explorer could be on the cards for North America.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tesla CEO Elon Musk has complimented Ford’s EV strategy, stating that overall its “smart”. Musk replied to a tweet discussing Ford’s negative net margins on its EVs, stating that margins are always tough for new models.\u00a0\u00a0 For every EV it sells, Ford is currently losing 40% on average. Worryingly, the Blue Oval is only projected […]<\/p>\n","protected":false},"author":1,"featured_media":49073,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-49072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-cars"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/49072","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=49072"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/49072\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/49073"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49072"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}