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Ford has this billion-dollar advantage over Tesla’s and GM’s electric cars
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Ford President Kumar Galhotra sees ‘opportunity’ in Biden’s fleet electrification plan
Ford President Kumar Galhotra tells Fox News Autos’ Gary Gastelu that the automaker is in a good position to take advantage of Biden’s plan to electrify the federal vehicle fleet.
Ford is going big on battery-powered cars.
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The automaker has announced a near doubling of its planned investments in electric vehicles to $22 billion through 2025, putting it on par with General Motors and at about half what analysts expect Tesla to spend during the period, according to Morgan Stanley's Adam Jonas.
But while its American EV rivals have been selling all-electric cars for years Ford is just getting started.
Through January it had only delivered 241 of its first purpose-built EV, the Mustang Mach-E, to U.S. customers. But it also put 5,000 into the pipeline last month, and they’re flying off the lots in an average of four days, even in the face of stiff competition from the Tesla Model Y.