Ford says they expect their future low-cost EV to be a rival for Tesla and a potential Model 2.
When Ford announced that it was investing billions in electrification a couple of years ago, its biggest target at that time was the company with the most market share in that particular segment – Tesla. A lot has changed since then, with global demand for EVs lagging behind expected levels of growth, prompting Ford to dial back its investments in that area and delay the launch of certain models. However, the forthcoming, low-cost Ford EV that’s currently under development is still being envisioned as a Tesla fighter, too.
“And we think the main competitors will be the new Tesla Model 2,” Ford CEO Jim Farley said during a recent interview with NBC News. “We think Tesla will come out with an affordable vehicle, and the Chinese players from BYD and the state owned enterprises.” The Model 2 has long been rumored to be the name for Tesla’s own entry-level EV, which was previously rumored to have been canceled, though that report was later shot down by CEO Elon Musk.
This news is of particular interest given the fact that to date, Farley has been adamant that the low-cost Ford EV is aimed squarely at cheap Chinese EVs, both in that country and other parts of the world where they’re sold or may be sold in the future. In fact, Farley previously stated that the inspiration for that new Ford EV came from a trip he took to China a few years ago.
