Tesla’s journey began with a strategic focus on high-end electric vehicles, leveraging cutting-edge technology and cultivating a strong brand identity. This approach established Tesla as a leader in the electric vehicle (EV) market.
However, it was the introduction of more affordable models like the Model 3 and Model Y that truly propelled Tesla into the mainstream, making EVs accessible to a wider audience.
This success forced other carmakers to speed up their own EV development to keep pace, sparking an affordable EV revolution.
This intensified competition, coupled with advancements in EV technology and increasing environmental consciousness, has led to a dramatic surge in demand for EVs.
Tesla’s Impact on Ford:
Ford is intensifying its presence in the electric vehicle (EV) market, unveiling a covert initiative developed over two years. The company strategically poached a top engineer from Tesla and built a dedicated skunkworks team within their in-house startup. Comprising engineers, including those from Auto Motive Power, the team aims to create an affordable EV platform.
Ford’s EV Strategy:
Ford’s in-house startup aims to create a battery-powered car for significantly less than the current base price of the Mustang Mach-E Select, to compete with Tesla and Chinese OEMs. Currently, Ford’s most affordable EV offering is the base model of the Mustang Mach-E Select, starting at $44,795 before any incentives.
