Ford CEO Advocates for Smaller, More Affordable EVs

Ford CEO Jim Farley is pushing for smaller and more affordable electric vehicles (EVs) to enhance profitability. The company is set to introduce a $30,000 EV by 2027 as part of this new strategy. Farley believes that the production and sale of large EVs are not cost-effective due to high battery costs.

Embracing Smaller Vehicles

In a recent statement, Ford CEO Jim Farley emphasized the importance of Americans falling back in love with smaller vehicles. He highlighted the significance of this shift for both society and EV adoption. Farley expressed concerns about the weight of large vehicles and the challenges they pose.

Shifting Focus to Affordable EVs

Farley pointed out that enormous EVs with high battery costs are not financially viable. As a result, Ford is redirecting its resources towards developing smaller and more affordable EVs. The company aims to launch a $30,000 EV by early 2027 and expects it to be profitable within a short period.

Potential Models for Ford’s $30k EV

Ford Puma

While Ford’s entry-level model in Europe, the Puma, received a facelift in 2024 and is set to introduce an electric variant, its compact size may limit its appeal in the US market.

Ford Maverick

The Ford Maverick, a compact pickup that has gained popularity in the US, could serve as a potential platform for Ford’s affordable EV. Its crossover styling and sporty features may make it a compelling choice for American consumers.