Ford Will Copy Tesla’s Playbook To Make Better EVs – Review Geek

Ford has a new strategy that will help it retain employees and build more electric cars.

Ford F-150 Lightning EV production plant

As the electric car market gains momentum and becomes more competitive, automakers are looking for benefits to improve profits and reduce costs. Now Ford CEO Jim Farley has detailed how the company wants to copy Tesla’s playbook and go back to an old strategy of making better electric cars.

While Ford has had many early successes with the Mustang Mach-E and F-150 Lightning and has more electric cars on the way, the competition will only grow. As a result, the automaker’s CEO claims the company will move production in-house, which will not only save jobs but also help it take on rivals from Tesla and Chevrolet.

According to ElectrekFord’s CEO told reporters at an event that the company wants to produce engines, battery packs and other EV components in-house. Right now it’s buying those parts, which is a bottleneck and more expensive.

In addition, the company can redeploy employees and retain staff instead of layoffs, as electric vehicle production requires about 40 percent less labor than gas-powered vehicles. While the CEO has previously mentioned Tesla and credited Elon Musk with pushing EVs forward and changing the industry, Ford isn’t technically copying Tesla’s playbook. That’s because this is exactly how Ford was so successful in its early years.

“We are going back to where we were at the beginning of the century. Why? Because that’s where the value creation lies. It’s a huge transformation.” Ford CEO Jim Farley

The CEO wants to return to the old days of Ford Model-A production, where he will produce everything from the engines, seats, battery packs and more in his own facilities. This move could speed up production, help the company take control of as much of its supply chain as possible, cut costs and prevent job losses. This is how Ford used to work and a strategy currently used by companies like Tesla, Apple and others.

It’s worth noting that Ford broke ground for a new plant in Kentucky earlier this year. A location that will play an important role in building parts for electric cars, such as batteries. Given that Ford is one of the “big three” it won’t be going anywhere anytime soon, but this should help it stay competitive and offer lower prices.

through Electrek

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