It seems that Tesla will have to share the spotlight again when it comes to electric cars. This time, the competition comes from Ford. And this automobile giant is not only looking to produce any electric car. In fact, it admits it can produce one that can go the distance farther than any Tesla, especially the all-new Model 3.
Ford Motor Company Chief Executive Officer Mark Fields is exuding a lot of confidence nowadays. After all, his company has been doing impressively well recently. He described the start of the year as “terrific” for Ford. In fact, it was “an all-time record for the company, with very strong performance across the business.”
During the first quarter of 2016, Ford reported $2.1 billion in net income and $3.8 billion in quarterly pre-tax profit. Indeed, Ford is having its “best quarter ever.” Hence, it’s high time to set their sights on becoming as successful in the electronic vehicle market as Tesla.
Ford has been keeping its eye on Tesla ever since. In fact, it paid nearly $212,000 to be among the first to buy the Model X SUV. At the same time, the Model 3 also got Ford’s attention. After all, Tesla’s new car managed to secure as much as 180,000 orders 24 hours after it was unveiled. Moreover, that number grew to 276,000 days later. The starting price for a Model 3 is $35,000, making it Tesla’s most affordable car yet. And it seems, people are loving it.
According to a recent report from Bloomberg, Ford is determined to be at the head of the EV pack soon. During a recent conference call, Fields remarked, “We want to make sure that we’re either among the leaders or in a leadership position.”
This fall, Ford is set to start offering its new Focus Electric car, which would have a driving range of 100 miles. At the same time, it plans to introduce 13 EVs and hybrids by 2020.
Recent research indicates that consumers are willing to buy EV’s as long as the range extends to 200 miles and the vehicle’s price is below $30,000. It now remains to be seen how successful Ford will be in meeting this demand.