Ford CEO Jim Farley confirmed that the market needs affordable electric vehicles, which Ford will offer in its next generation of products. He also promised that the models would be profitable and that Ford would increase production to meet demand for its popular hybrid models such as the F-150 PowerBoost and Maverick Hybrid.

It was a promising earnings call for Ford, which has struggled to attract investors. Ford’s stock price is one of the lowest globally compared to its earnings, a sign of a lack of confidence among investors in Ford’s main business. However, Ford has a massive fleet business, a strong and in-demand hybrid portfolio, and the Mustang Mach-E electric vehicle is the second-best-selling electric SUV in the U.S. behind the Tesla Model Y.

Ford has had to adjust its expectations for EV adoption. However, the company now believes it is on the right track, with a number of powerful hybrid models and the popular Mustang Mach-E. The difficulty is not only selling electric cars but also doing so profitably.

Sales of the Mach-E have grown rapidly since Ford cut its price by 17 percent. Farley said affordability is top of mind for consumers, as evidenced by Mach-E sales growth, and he promised the next generation of Ford electric vehicles will be both affordable and profitable. It is noted that this shift comes at a time when Tesla is said to have lost interest in the rumored cheap electric car “Model 2”, and the company may have abandoned the project in favor of Elon Musk’s promised autonomous driving. Taxi project.

Ford said models such as the Maverick, F-150, F-250 and Ranger are selling like hotcakes, and the company is on track to build a profitable electric vehicle business while continuing to generate cash flow from its gasoline-powered vehicle business. To stay relevant and lower emissions, Farley said Ford will introduce hybrid models in every segment. The key is to control prices as consumers face higher interest rates that make it much more expensive to borrow money to buy expensive cars and trucks.

All in all, Ford aims to have a strategic advantage in affordable electric vehicles. General Motors is trying to achieve the same goal with the Chevrolet Equinox EV, and Tesla also has the Model Y. Who will win the race to bring long-range, affordable electric vehicles to younger consumers and less affluent buyers is anyone’s guess, but it’s certainly a good thing that more companies are joining the market.

“What’s really exciting for us is we see a gap in the market,” Farley said. “We believe we can do it profitably in the $25,000 or $30,000 price range.”

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This preview image does not show too many details. Judging from some outlines, the new car is expected to be equipped with a larger rear wing. As Ford fans, I believe everyone hopes that this car can be the successor of the GT350 and GT500. There is also a judgment that it is a new version of the RTR. Ford will release the Spec 2 of the Mustang RTR in 2023. Will the one released next year appear as Spec 3, or it will be a new model focused on performance.

In addition, there is another judgment that this car does not rule out being a hybrid model, because Ford has stated that by 2030, all models sold in North America will provide hybrid versions. We will also wait and see what the final identity of this car will be.

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“The picture shows the 2023 electric horse Rally version”

The 2024 Ford Mustang Mach-E Rally offers four models: Select, Premium, GT and Rally. Select and Premium are rear-wheel drive and all-wheel drive models. Select is only equipped with a standard battery pack. Premium provides a standard battery and an extended-range battery. GT and Rally are only equipped with All-wheel drive configuration with extended-range battery.

The entry-level Select starts at US$41,890, approximately RMB 303,200; the Premium model starts at US$45,890, approximately RMB 332,100; the GT model starts at US$55,890, approximately RMB 404,400; and the Rally model The starting price is US$61,890, which is approximately RMB 447,800.

The 2024 Mustang Mach-E GT version is equipped with Ford Performance front seats, Brembo brand front brake calipers and MagneRide damping system.

The 2024 Mustang Mach-E Rally Select model has a cruising range of 402 kilometers, 32 kilometers more than before; the Premium model equipped with an extended-range battery has a cruising range of 515 kilometers, an increase of 32 kilometers; the GT version has a cruising range of 451 kilometers, an increase of 16 kilometers; Rally The version model has a range of 426 kilometers.

In terms of charging, the electric horse equipped with an extended-range battery charges 20% faster. It only takes 36 minutes to charge from 10% to 80%, which is nearly 9 minutes faster than before. The 10%-80% charging time of the standard battery pack model is 32 minutes, which is nearly 6 minutes faster than before.

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The EPA range of all Mustang Mach-E 2024 models has been improved, with a range of 250~320 miles (approximately 514.99 kilometers):

Ford said that the Mach-E model equipped with an enhanced battery can be charged from 10% to 80% in just 36.2 minutes through DC fast charging, which is nearly 20% faster than the previous model; the standard model can be charged from 10% to 80% in 32.3 minutes. Charging to 80% is 5.7 minutes faster than the previous generation Mach-E.

Thanks to “performance upgrades,” Ford’s new Mach-E GT has shaved half a second off its 0-60 mph acceleration time (now 3.3 seconds). It’s also the fastest Mustang Mach-E model to date, faster than Tesla’s Both the Model Y Performance and the Porsche Macan 4 Electric are fast, and it can run the quarter mile in 11.8 seconds at 114 mph.

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Only a third of the 2,100 workers originally working at the plant, about 700, will remain in their jobs. The remaining 1,400 people will face two choices: transfer to the Michigan Assembly Plant in Wayne (which produces Bronco and Ranger models) or accept the $50,000 negotiated with the union last year (Note: currently about 362,000 RMB) Pension scheme.

A new shift will be added at the Michigan assembly plant in an effort to boost Ford’s finances through sales of gas-powered models. Ford’s current sales of fuel models are still strong, which can provide the company with a stable flow of funds, while sales of electric models have been tepid.

A Ford spokesman said no employees would lose their jobs as a result of the personnel changes.

Ford lowered its F-150 Lightning production target late last year as the company needed to evaluate the optimal strategic output of its electric pickup truck. In February, Ford paused deliveries of the F-150 Lightning to prioritize delivery of the fuel-powered F-150 pickup truck.

Earlier this week, Ford Chief Financial Officer John Lawler reiterated to investors at a conference that the company is adjusting its strategy, including purchasing decisions, to remain competitive in a saturated market with fierce competition. Lawler acknowledged that Ford may have overestimated its capacity needs when it began producing electric vehicles.

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In the 1970s, Ford first used the Free Wheeling kit on its F-100, F-150, Bronco and Econoline models. The kit was inspired by the sunset and consisted of red, orange and yellow gradients.

This new Ford Bronco Sport Free Wheeling still continues the classic design style, applying four-color stripes on the side of the body and the hood. In addition, the new car is also equipped with two-color Bronco logos and wheel rims.

The interior of the car uses black/gray as the main color, with four-color stripes added on the seats. At the same time, red decorations are added on the doors and central control panel to enhance the visual effect. In terms of power, the new car still offers two engines, 2.0T and 1.5T, with maximum powers of 245 horsepower and 181 horsepower respectively. In terms of transmission system, all models are matched with an 8-speed manual transmission.

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Ford sold 24,165 F-150 Lightnings last year, and all F-Series pickup models totaled 750,800 units. But this does not mean that electric vehicles are unpopular in the United States. It is understood that Tesla Model Y will sell a total of about 400,000 units in 2023, second only to Toyota RAV4’s annual sales of 430,000 units, and is the U.S. sales ranking in 2023 The second model.

The Ford F-series is the best-selling pickup truck in the United States. However, starting in July last year, Ford announced a major price reduction for the F-150 Lightning. The maximum price reduction was US$9,979 (approximately RMB 71,600), a decrease of 16.6%, the highest price reduction. The entry-level model has a starting price of US$49,995 (approximately RMB 358,500) after price adjustment.

However, the price reduction of the F-150 Lightning seems to still be higher than the starting price of the Cybertruck. Although the F-150 has always been the best-selling model in the United States, it may still face huge pressure for Tesla to join. . This also resulted in the F-150 Lightning ultimately failing to save its face and facing production cuts.

The F-150 Lightning is equipped with dual motors on the front and rear axles, with a maximum power of 563 horsepower and an acceleration time of 0-60 mph (0-96 km/h) of up to 4.5 seconds. In addition, the new car is equipped with a four-wheel drive system that supports a total of 4 driving modes: standard, sport, off-road and towing. In addition, the vehicle has a maximum towing capacity of 4.5 tons and a maximum cruising range of 320 miles (approximately 515 kilometers) under EPA standards. Not only that, the car also has a 400-liter large space in the front trunk that can realize two-way transmission of electric energy. The maximum external discharge power of 9.6 kilowatts is enough to meet the power demand in multiple scenarios, and can also provide power for households for 3 days during a power outage.

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From the appearance, the new car is equipped with a Ford family-style large-mouth air intake grille. The sharp headlights are integrated with the front grille. The lower part of the front of the car is equipped with a black surround + silver decorative design, which makes the new car a little more span. world style. As a plug-in hybrid model, the vehicle is equipped with a charging socket on the left front fender.

The lines on the side of the car body are exactly the same as those of the Volkswagen Caddy, with a side sliding door design, and the roof is also equipped with a luggage rack to further enhance practicality. The tailgate of the new car is very wide, covering almost the entire rear of the car, making it very convenient to load and unload large cargo. The taillights adopt a longitudinal layout, and the complete taillights can be seen even when the tailgate is open, which increases safety in night use scenarios.

Looking at the interior, the new car is equipped with a 10.1-inch full LCD instrument panel + central control screen, but the center console also retains a row of physical buttons to improve the operational convenience of commonly used functions. The car-machine system supports the interconnection of Android and Apple phones, and has exclusive functions for plug-in hybrid models, such as remaining power, cruising range, charging information display, etc. The new car is equipped with a very small and exquisite shift lever, and two USB interfaces can be seen in the front. In addition, the third row of seats in the new car can be removed and the second row of seats can be folded down. The space layout is very flexible, similar to the domestic Wuling Hongguang, which can carry people and pull cargo.

In terms of power, the new car is equipped with a plug-in hybrid system from the Volkswagen Group, which is composed of a 1.5T four-cylinder engine + electric motor, with a combined power of 150 horsepower and a combined torque of 350N·m. The transmission system is matched with a 6-speed dual-clutch gearbox. The new car supports 50kW fast charging and can also use 11kW home charging piles. The pure electric cruising range is 110km.

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Ford has responded by shifting production from large electric vehicles to smaller, lower-cost electric vehicles and delaying plans for its three-row electric SUV. Currently, Ford is focusing on developing compact electric vehicles and has established a dedicated team in Irvine, California.

The report quoted people familiar with the matter as saying that the team includes less than 100 people and is committed to developing a new electric platform to support a variety of vehicles such as compact SUVs and small pickup trucks. The person familiar with the matter said that the first pure electric compact model will be launched at the end of 2026, with a starting price of about US$25,000 (Note: currently about 180,000 RMB), which will be consistent with the low-cost electric vehicles being developed by Tesla. The expected selling price is in the same range.

The person said other details: The compact new car will be powered by lithium iron phosphate batteries, which are about 30% cheaper than traditional lithium-ion batteries. At the same time, Ford is still exploring other battery technologies to further reduce costs.

According to previous report in February this year, Ford stated at its fourth quarter 2023 earnings call that it was rethinking its electrification strategy and would develop small electric vehicles based on a new low-cost platform. The move comes against the backdrop of Ford’s electric vehicle unit Model e losing nearly $4.7 billion in 2023 (currently about 33.84 billion RMB), exceeding previous expectations of $3 billion.

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Ford CEO Jim Farley said after the release of fourth-quarter earnings that “dramatic changes” in the electric vehicle market forced the company to make changes.

Farley pointed out that the two main reasons for the change in the market structure are: first, the significant price cuts by electric vehicle manufacturers such as Tesla, and second, the large influx of capital and production capacity into the compact crossover vehicle segment, which is also Ford The market segment in which Mustang Mach-E is located is its best-selling electric vehicle market.

Although the Mach-E is the second-best-selling electric SUV behind the Tesla Model Y, rivals like the Hyundai IONIQ 5 are eating into its market share. While Mach-E sales rose 4.6% year-over-year in the fourth quarter, with 11,369 units sold, Hyundai IONIQ 5 sales surged 92% in the U.S. to 8,612 units.

Farley said the next generation of electric vehicles will have “groundbreaking efficiencies” compared to current models and be “packed with innovative features that customers will pay a premium for.”

Currently, Ford says the standard-range version of the Mach-E can be charged from 10% to 80% in 38 minutes using a DC charger with a maximum output of 107kW. The long-life version takes about 45 minutes. Based on Hyundai’s proprietary 800V E-GMP platform, the Hyundai IONIQ 5 can cut charging time in half, charging from 10% to 80% in just 18 minutes.

It is noticed that according to a new Ford patent, the company seems to be introducing 800V fast charging technology for its next-generation electric vehicles to narrow the gap with competitors.

The patent, published on February 27, 2024, is titled “Multi-voltage electrical architecture for electric vehicles.” It details the 800V fast-charging system developed by Ford for electric vehicles, which uses a multi-voltage charging circuit that includes two voltage levels: 400V and 800V.

Earlier this month, Ford’s CEO also mentioned that the company was developing a low-cost electric vehicle platform. Farley said Ford has assembled a “talented team” to do so, and while the team is small, it includes, according to Farley, “some of the best electric vehicle engineers in the world.” General Motors (GM) Chief Financial Officer Paul Jacobson said the company will save dozens of dollars by launching the next-generation Bolt EV on its Ultium platform rather than developing a separate low-cost system. One hundred million U.S. dollars.

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