There is no doubt that Ford believes in EV technology. He launched the Mustang Mach-E and the F-150 Lightning, and has committed to spending $50 billion in the coming years to invest in new electric vehicle plants and upgrade older plants to cope with the shift away from combustion technology. But the shift is only a partial step, as Ford says gas-powered vehicle sales continue to be critical to its growth.
Ford CEO Jim Farley recently split the company into an electric car business called Model e and a combustion division of Ford Blue. If you had the chance to get behind one of these subs, you’d go for the e model. The future is electric, right? It may be for some consumers, but Ford believes that there is not only money to be made selling internal combustion engine cars, but probably more money than the competition, because Ford is determined to continue offering internal combustion engines when the competition leaves market, potentially giving Ford more market share. So far, GM has only promised to sell zero-emission cars by 2035Ford made no such promise.
The new 2024 Mustang is a great illustration of Ford’s unwavering faith in gasoline-powered cars at a time when its opposition is going all out on electric cars. When the Mustang hits dealerships next summer, it won’t even offer mild hybrid technology, let alone PHEV or all-electric options, with the traditional V8 musclecar still the mainstay of the engine lineup. But by the summer of 2023, the Dodge Challenger will be on his farewell tourand it’s likely that the Chevrolet Camaro won’t spend much time following it.
“In this particular segment, the Mustang, even though the segment may shrink, there is a lot of speculation that our competitors may leave the segment,” Ford Blue President Kumar Galhotra said. told CNN Business. “So even though that segment of the industry is shrinking, we can grow.”
Cars for enthusiasts like new mustang and Bronco are just one of three areas of focus for Ford’s combustion efforts, the others being SUVs and trucks. Galhotra confessed CNNReporters say that gas-powered vehicles will eventually be phased out, but until that happens, Ford seems more than happy to indulge our passion for internal combustion engines while catering to other drivers’ desire to go electric.