FORD CEO Jim Farley, a car lover and motorsports enthusiast, didn’t initially buy electric vehicles — now he says more is needed to make them desirable.
He wrote that V8s were “the soundtrack of his life” – now he says he can fully appreciate EVs.
two
However, to attract other “lifelong gas heads” to the other side of the fence, more changes are needed – not on the part of federal or state governments, but on the part of auto manufacturers themselves.
Farley has openly admitted that EVs need more work, like the video he posted to his X profile while driving from California to Las Vegas in a Ford F-150 Lightning.
“Carrying has been quite challenging,” he said in his video at the end of last year.
“I stopped at one of the most popular charging locations in the country on I-5, where there is a large Tesla Supercharger network, and I used a low-speed charger and it took me 40 minutes to get a 40 percent charge.”
He said the trip was an important “reality check” to bring to the development table for future EVs.
Recently, the F-150 Lightning production facility saw two thirds of workers were redirected to other projects or offered a retirement package due to decreased demand for EVs.
Other automakers have made similar cuts to save on overall EV production costs, citing sluggish customer demand.
Dealers have written to automakers that EVs have been sitting idle for months before being sold, taking up valuable inventory space.
Recent studies have shown that for many Americans, the initial cost of EVs is still too high, even with federal and state incentives to reduce the initial cost.
Public charging is still unreliable for those who cannot charge an EV from home, insurance tends to be more expensive and, although EVs do not require as much maintenance, the costs when they do require maintenance are usually high.
Farley, in a recent LinkedIn post, said policy changes are not enough to convince drivers to switch to all-electric vehicles.
“As a long-time petrolhead, I was as surprised as anyone when I fell in love with electric vehicles,” he wrote Farley.
“It wasn’t government policies or political beliefs that sparked this late-career romance with electric vehicles. It’s because I drive one – my Ford F-150 Lightning Platinum.”
He went on to write that as more people buy EVs and infrastructure continues to grow and improve, EVs are slowly becoming more convenient than gasoline-powered cars.
We are actually losing money on electric vehicles in the early stages of this transition, largely due to initial investment costs. But this is also changing. After all, what major technological advance wasn’t challenging and expensive in the early stages?
Ford CEO Jim Farley
He called this a “turning point”, which would be dictated by the consumer.
“For me and millions of Americans, electric vehicles are eliminating daily hassles and reminding us why we love driving,” Farley wrote.
What’s important, he says, is accessibility.
“I remember when cell phones seemed to be just for doctors and stockbrokers. When computers were for NASA. When the internet was a fad and CDs covered my truck’s display. It takes time for innovations to consolidate. But when that happens, the change is profound and lasting.”
At the helm of the largest automaker in the United States and as a car lover, he deeply understands why drivers are still cautious about EVs.
Why aren’t people buying EVs?
In January, many electric vehicle manufacturers reported sluggish demand. Rueters said there are a few valid reasons for the slowdown in demand:
- High initial costs. Many automakers, including Tesla, Hyundai and Ford, have carried out “price cuts” on their flagship electric vehicles to attract new buyers, even as demand remains sluggish.
- Higher insurance costs. Some insurers cite fire risks, high battery replacement costs and greater vehicle weight as reasons for higher premiums.
- Loaded anxiety. A large percentage of people remain afraid of finding themselves in a situation where they will not be able to charge if they run out of battery due to a lack of infrastructure.
- Range anxiety. In many cases, EVs still do not have the range and infrastructure of gas-powered vehicles.
- Poor performance at extreme temperatures. Reduced range in extremely hot or cold climates makes potential buyers wary.
Source: Reuters
“Today, sales of electric vehicles are growing, but many remain skeptical due to charging and range, which is understandable,” he continued.
He promised his readers that although there have been several headlines about how much the company is losing from EV production, it will bring benefits to those who matter most: consumers.
“We are really losing money in electric vehicles in the early stages of this transition, largely due to initial investment costs,” he said.
“But this, too, is changing. After all, what major technological advance hasn’t been challenging and expensive in the early stages?”
This story originally appeared on The-sun.com read the full story
