Ford no longer plans to ignore Tesla's continued success

Ford no longer plans to ignore Tesla's continued success.  Jim Farley , chief executive of Ford, told employees that the company can no longer ignore the threat posed by Tesla .   During a meeting with employees of the US automaker, Farley discussed the current situation of the fast-expanding 100% electric car maker and what it has done to establish such a strong advantage in the EV industry over other manufacturers.  “ If Ford were a trillion dollar company, our shares would be worth about $ 250 per share. Think immediately about Tesla's value creation. And they have resources, smart people, the Model 3 is now the best-selling vehicle in Europe. It was the best-selling vehicle in the UK. In most months, it is the best-selling vehicle in California. Not only electric, but above all. If we want to be successful, we can no longer ignore this competition, ”Farley said.  Here's how Tesla manages to differentiate itself from other automakers, according to Farley Ford's CEO went on to say there are a few key characteristics that differentiate Tesla from the traditional automakers that have dominated the industry for several years.  “ Look at Tesla, why they are doing what they are doing and what we can learn from them. First, they have a direct model… There is no one in between. They make it so easy. Three or four clicks allow you to configure the vehicle without much complexity to deliver it to the customer. Simple and non-negotiable price. An extensive booking system and remote service. Second, Tesla maximizes the use of electrons in the vehicle. Nobody does it better than them. Their customers pay less for a better battery… Third, the product itself is highly differentiated from the rest of the ICE industry and the complexity is minimal, compared to OEMs, ”Farley added.  The The Detroit Free Press says Jim Farley also spoke about Rivian , pointing out that it has already begun shipping its electric pick-up even though it is a start-up in every respect.

Jim Farley , chief executive of Ford, told employees that the company can no longer ignore the threat posed by Tesla .

During a meeting with employees of the US automaker, Farley discussed the current situation of the fast-expanding 100% electric car maker and what it has done to establish such a strong advantage in the EV industry over other manufacturers.

“ If Ford were a trillion dollar company, our shares would be worth about $ 250 per share. Think immediately about Tesla's value creation. And they have resources, smart people, the Model 3 is now the best-selling vehicle in Europe. It was the best-selling vehicle in the UK. In most months, it is the best-selling vehicle in California. Not only electric, but above all. If we want to be successful, we can no longer ignore this competition, ”Farley said.

Here's how Tesla manages to differentiate itself from other automakers, according to Farley

Ford's CEO went on to say there are a few key characteristics that differentiate Tesla from the traditional automakers that have dominated the industry for several years.

“ Look at Tesla, why they are doing what they are doing and what we can learn from them. First, they have a direct model… There is no one in between. They make it so easy. Three or four clicks allow you to configure the vehicle without much complexity to deliver it to the customer. Simple and non-negotiable price. An extensive booking system and remote service. Second, Tesla maximizes the use of electrons in the vehicle. Nobody does it better than them. Their customers pay less for a better battery… Third, the product itself is highly differentiated from the rest of the ICE industry and the complexity is minimal, compared to OEMs, ”Farley added.

The The Detroit Free Press says Jim Farley also spoke about Rivian , pointing out that it has already begun shipping its electric pick-up even though it is a start-up in every respect.

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