Ford has long been recognized as one of the most iconic car manufacturers in the world. Yet, this doesn't mean the company has slowed down in terms of innovation. Recently, Ford rolled out a strategy focusing on electric vehicles to boost its market share, improve profits, and reduce its carbon footprint.
How Ford Will Draw in New Customers
Ford plans to introduce more electric vehicles into sectors it believes it can dominate, including pickup trucks, SUVs, and commercial vans. By 2026 or 2027, Ford will offer at least one electric option in each of these categories. These vehicles will have longer ranges and come at a lower cost, which will appeal to early adopters.
How Ford Will Shrink Its Carbon Footprint
Electric vehicles use less fuel than traditional models and produce less pollution on highways or city streets. Since electric vehicles are more efficient and have fewer parts, they are easier to maintain. This will allow Ford to reduce its reliance on service centers and the equipment needed for repairs, helping to decrease fuel use and other materials that can harm the environment.
How Ford Will Boost Its Profitability
Ford is looking for new sources for battery production and evaluating where it obtains other raw materials to improve its profitability. It will also focus on maximizing production capacity at its plants.
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