Ford CEO Jim Farley is confident that a real price war will soon begin in the electric car market. This will happen after the appearance of models worth about 20,000 euros.
Due to production restrictions and high demand for electric vehicles, there is currently nothing like a price war. On the contrary, the low level of stocks of electric cars in warehouses and the high demand create fertile ground for various speculations.
Dealers literally impose unnecessary options and sometimes artificially inflate the price. However, things could change drastically, and very soon.
At a conference on strategic decisions in Bernstein, Ford CEO Jim Farley said he expected the cost of producing electric vehicles to fall in the coming years. So much so that models for 20,000 euros will become commonplace.
As an example, he pointed to the Mustang Mach-E, which costs about 45 thousand dollars, while the battery alone costs about 18 thousand. It is the battery that is the “weak spot” of any electric car, it actually leaves no chance for a radical reduction in costs.
Jim Farley
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However, Farley is confident of a reduction in the cost of batteries. What’s more, Ford is working on a next-generation electric car platform that will be significantly less time-consuming and therefore cheaper. Ford is even ready to reduce distribution and advertising costs so that this is ultimately less reflected in the final price of the electric car.
The curious thing in this case is that almost simultaneously with the statement of the boss of Ford, the direct competitor of the brand in the face of Chevrolet radically reduced the price of electric vehicles Bolt EV and EUV. Now the price of the cheapest configuration starts at $ 25,600. It seems that price wars are yet to come.
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