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A week ago, Ford announced it is splitting its business into two separate divisions covering different aspects of the automotive industry. Ford Blue will work on future combustion engine-powered vehicles, while Ford Model E will develop fully electric vehicles. While the latter will have access to the automaker's high-volume manufacturing ability, its establishment will reportedly drive some changes in the way Ford is selling cars to customers.
According to a new report from Automotive News, the Blue Oval company will work on new operating standards for EV sales. They will combine the firm’s more than decade-old expertise in selling and delivering cars through dealers with know-how from direct-sale startup companies in the industry. The exact terms will be discussed with the dealers over the next few months but Ford executives have reportedly outlined some of the rules they want to include in the new plan.
Probably the most interesting part of the new strategy will force Ford’s dealers to stop carrying new-vehicle inventory and instead move to an order-only sales model. This is basically identical to the way Tesla sells cars and Ford’s CEO Jim Farley believes this move could help the automaker lower the prices of their electric cars. Also, the retailers will be asked to sell EVs at MSRP. However, Ford will probably keep maintaining physical support for its customers during their new vehicle ownership.
"We've been asking ourselves, how do we not just get the $2,000 out but really be better than them?" Jim Farley said in an interview. "The lack of physical support for the customer becomes a really critical problem for them. Not everything can be done remote. We can do things Tesla can't do."
Automotive News’ report also says Ford will give its nearly 3,100 dealers in the US the opportunity to sell electric vehicles alongside traditional combustion-powered cars. In order to be approved, they will have to meet certain requirements and, if they choose not to sell EVs or can’t afford that, they can continue selling only combustion vehicles.
Ford has some of the hottest products on the market these days, like the Bronco, Maverick, and F-150 Lightning, but the company is struggling to fulfill the demand from customers. Supply chain issues and production disruptions prevent the automaker from maintaining a strong sales flow and Ford’s financial report for the first quarter of this year shows the delayed deliveries have a strong negative effect on the results for the first three months.
The manufacturer posts a $34.5 billion revenue, though the brand lost $3.1 billion mainly due to the valuation of its investment in Rivian, which saw Ford losing $5.4 billion. The figure is surely not welcomed by the board of directors as it represents a significant drop from last year’s $3.3 billion profit on $36.2 billion in revenue registered for Q1 of 2021. Ford also reports $2.3 billion in adjusted earnings before interest and taxes.
From January to the end of March, Ford delivered nearly 970,000 vehicles worldwide, down 9 percent from a year ago. However, the company remains positive there will be fewer supply chain issues in the next quarter. In fact, after seeing major delays in January and February, Ford says the manufacturing rates improved significantly in March. The brand’s CEO, Jim Farley, says in a statement that Ford is entering Q2 with an “extremely healthy” order bank.
The automaker ended the first quarter of the calendar year with $29 billion in total company cash and $45 billion in liquidity. Those numbers don’t include Ford’s stake in Rivian, which dropped from $10.6 billion at the end of 2021 to $5.1 billion on March 31.
The strong demand for new Ford products in the United States supports the company in maintaining its full-year outlook – $11.5 billion to $12.5 billion in adjusted EBIT. Also, the adjusted free cash flow for the year is planned to be between $5.5 and $6.5 billion. We will learn whether Ford’s predictions for the second quarter of the year were true when the company releases its Q2 report on July 27.
Bro, don't you know that slow production and backordered products are the signs of success??? Tesla is sold out of the Model Y for the year, that shows success!
The lucky owners of a Ford F-150 Lightning will be able to power their houses from the electric truck’s battery thanks to its vehicle-to-load (V2L) capability. The key feature of the F-150 Lightning requires the installation of two critical components, though, and one of them had an unspecified price until now. 6 photos
One of the best features of Ford’s electric truck is the Intelligent Backup Power. This allows the F-150 Lightning to be used as a battery backup in the case of an emergency, provided that the house is wired accordingly. To achieve this capability, owners need to install both a compatible charger (Ford Charge Station Pro) and a gateway called Home Integration System.
Ford advertised the Charge Station Pro and even opened the order book a while back. It costs $1,310, which is only a minor bump over the $799 price of a regular Connected Charge Station. Nevertheless, the charger is included with extended-range F-150 Lightning purchases, so it will be offered free of charge to a lot of owners.
What Ford did not reveal was the price of the other components that help the F-150 Lightning power your home. The most important is the Home Integration System, which comprises an inverter, a transfer switch, and a small battery that temporarily powers the system when the main power goes out. Fortunately, Matthew Stover, Ford's Director of Charging & Energy Services has spilled the beans in a LinkedIn post.
According to that, the Home Integration System’s price is a very reasonable $3,859. The kit will be sold exclusively via Ford’s partner Sunrun, which is also tasked with installing the whole system. The F-150 Lightning owners can also opt for an alternative installation contractor, but they still need to buy the Home Integration System from Sunrun.
The Home Integration System automatically disconnects the house’s electrical system from the utility line and switches over to Ford Intelligent Backup Power when the grid goes down. In the future, it will also allow to power the house from the truck’s battery when electricity rates are higher, potentially saving money and easing pressure on the grid.
We know Ford already started trials with PulteGroup in Fort Myers, Florida, and the F-150 Lightning proved capable to power a house for three days. This can be further extended when solar power is also used. The system can also optimize a house’s energy usage by combining bi-directional power and other renewable energy sources.
Earlier this year, Ford announced that it would be splitting itself into two distinct entities – Model e, which will focus on EVs, and Ford Blue, which will handle the ICE side of things. At that same time, FoMoCo also noted that it will ask Ford dealers to specialize in one or the other, or even other parts of the automaker’s business such as Ford Pro, the dedicated commercial entity. The idea is to let dealers choose which business model suits them best, though at the time, the automaker did not specify when we might expect to see this change. However, CEO Jim Farley is now saying that Ford dealers will likely switch over to the company’s new business model very soon
“We’re now deep into discussions with our dealer partners around the globe, but especially in North America, on brand new standards that are required to launch a completely different customer experience that is leaner and better for our customers that we believe will not only be competitive but superior to a solely direct model,” Farley told investors while speaking on Ford’s Q1 2022 earnings call. “We’re drafting standards as we speak and plan to roll these out this year.”
On the EV side of things, dealers will be tasked with executing a list of new standards that Farley previously said will make the buying experience better than Tesla’s. As Ford Authority reported last month, that will likely include selling EVs at fixed prices, carrying zero inventory, and operating in scaled-down facilities. Dealers will be allowed to opt-in if they wish to sell EVs alongside ICE-powered vehicles as well. It’s currently unclear how much such a move would cost dealers or what sort of requirements will be in place, though the automaker’s “next-generation” EV certification costs roughly $35,000. Ford will also be sending salespeople, technicians, and parts employees to its new “Electric University” EV training school.
Ford CEO Jim Farley said the brand’s electric vehicles may shift to fixed prices and completely online sales. In a speech today at an IBM conference, Farley described a future where Ford dealerships would no longer stock inventory but serve as customer service centers for picking up online orders or repairing existing vehicles — with buyers also having the option for home delivery. In this hypothetical scheme, eliminating car dealerships would put an end to haggling with salespeople.
“We got to go to non-negotiated price," said Farley. Naturally, he also used his speech to throw some jabs at competitors.
"I believe some Mach-E and Lightning customers would love to have a Mustang for the weekend. Maybe they want a Super Duty. I can do that," Farley said, "They can't."
The company announced plans this year to be the top EV car maker in the world, hoping to beat out Tesla and other companies with strong EV brands such as BMW, Nissan and Kia. Farley said Ford aims to have the capacity to produce 600,000 EVs by 2023, a notably smaller figure than the 936,000 deliveries that Tesla made last year.
The CEO said he believes that prices for EVs will lower to an average of $25,000, as the cost of batteries and distribution gets cheaper.
Making EVs is far from being as straightforward as combustion-engined cars. In fact, even traditional vehicles are showing that any lack of components can harm production. When it comes to electric cars, they need new batteries, and they are not as readily available as it may sound. Ford decided to follow a Volkswagen strategy and will not allow leasees to buy their EVs at the end of the contract. 48 photos
In Volkswagen’s case, the company decided it would lease used EVs more than once to allow them to be used multiple times while they remained on the German automaker’s property. When their battery packs are no longer suitable for automotive use, Volkswagen will give them a second life as stationary energy storage systems and eventually recycle them.
That is the same idea Ford is now following, apart from some minor differences. By refusing to sell the used EVs, the American carmaker also wants to retain ownership of their battery packs. We have no idea if it will lease the used vehicles as Volkswagen will. What Automotive News confirmed is that the leasees will be given the option to lease new electric cars.
Automotive News wrote that the new rule applies to leasing contracts starting on June 15 and later in 38 states. The contracts will be updated in the other 12 states until the end of the year. We suspect they still do not have a high sales volume for electric cars, which allows Ford to worry about them a bit later.
Besides the new policy to hold the battery packs, Ford also made a deal with Redwood Materials to recycle these cells and have enough raw materials for the 600,000 EVs it intends to sell by 2023 and the 2 million units by 2026.
Evidently, the EVs it sells nowadays will not be enough to reach these sales volumes. Ford is just trying to ensure it will have enough cells many years from now. That is why it also signed a deal with Lake Resources to buy the lithium this mining company produces in Argentina. Now it only has to worry about nickel, cobalt, manganese, copper…
Ford is riding high on the immediate success of its recent vehicle releases. The Maverick and F-150 Lightningtrucks are both sold out and in high demand, but there’s more in store for the next few years. A recent trademark filing demonstrates the automaker’s electric intentions for two pickup trucks, the Maverick and Ranger. Ford applied to trademark “Maverick Lightning” and “Ranger Lightning,” meaning we’re more than a little likely to see electric versions of both trucks shortly.
The Maverick is just a year old, and the Ranger is due for a full update in the coming months, but Ford is looking ahead. CarBuzz recently uncovered the trademark applications, filed by The Blue Oval, that confirm what we already (mostly) knew: The Ford Maverick and Ranger are going electric, and they’ll wear the Lightning badge, just like the big-brother F-150.
Ford CEO Jim Farley already let the cat partially out of the bag. Last year, he hinted that an electric Maverick is something he’d like to see. The big tease for new electric trucks came earlier this year at the F-150 Lightning reveal. At the event, Farley said Ford was working on an electric pickup “different from the F-150.”
Specifics on either electric truck are nonexistent at this point, but the Ranger could pick up select components from the F-150 Lightning. While the Maverick already comes standard as a hybrid, the Ranger has no available electrification, so we may see an electric Maverick and a hybrid Ranger wearing the Lightning name.
Ford is more than knee-deep in its electrification goals at this time. The automaker plans for EVs to account for half its global sales volume by 2030. It’s also hard at work building Blue Oval City, a multi-billion-dollar, multi-thousand-acre mega-campus located outside Memphis, Tenn. The new facility and another in Kentucky will create 11,000 new jobs and support Ford’s battery and EV manufacturing goals.
Yeah, a Maverick EV would be great for a daily.
Ford just needs to drop the brown/orange interior req for a Lariat + Teck Pkg.
And EV B Sport would be neat too.
Ford, while you're at it, bring back the Focus RS and make a Focus RS Lightning Hybrid and blow the doors off of Honda and whatever they have planned for the CTR.
Turbo + electrification = wow. Will sell like hot cakes. Manual only as well.
Ford, while you're at it, bring back the Focus RS and make a Focus RS Lightning Hybrid and blow the doors off of Honda and whatever they have planned for the CTR.
Turbo + electrification = wow. Will sell like hot cakes. Manual only as well.
Thank you.
The Maverick is turbo and electrified already lol.
The couple's children, Kim and Adam Hill, were the plaintiffs in the yearslong wrongful death case, involving what their lawyers called dangerously defective roofs on Ford pickup trucks.
Lawyers for the plaintiffs had submitted evidence of nearly 80 similar rollover wrecks that involved truck roofs being crushed that injured or killed motorists, Butler's law firm, Butler Prather LLP, said in a statement to the news agency.
Didn't they recall all the roofs on every Mach-E made at the time because their roofs were about to fly off
This company has been around for over a century and they still can't make a good roof for their vehicles?
Didn't they recall all the roofs on every Mach-E made at the time because their roofs were about to fly off
This company has been around for over a century and they still can't make a good roof for their vehicles?
#TheCompetitionisComing
I don’t know, but I believe the jury went overboard with this verdict. In that case the plaintiffs should also sue the IIHS and other safety agencies for giving five star ratings to vehicles without adequately testing roof strength. Just saying.
Despite condemnation from Ford, dealers continue to mark up cars across the country. Now, Ford has a plan to reduce the practice as it goes head to head with Tesla for EV superiority. Not only will dealers be required to set no-haggle prices, but they’ll also have to commit to big changes if they want to carry electrified Ford products.
At a recent meeting with its dealership network, Ford laid out a host of changes coming in the near future. Dealers who wish to participate can choose one of two levels of EV certification according to Automotive News.
The first, called Model e Certified, requires that a dealership spend an estimated $500,000 to put in proper EV infrastructure. Once completed, the dealer in question can continue to sell Ford EVs and service them. Importantly, they won’t be provided with EV inventory or demo units but they will be allowed to order units for customers.
The top tier is called Model e Certified Elite and Ford estimates that dealers who want to be a part of it will need to spend at least $900,000. Part of that cost will include a minimum of two DC fast chargers including one specifically for the public. Model e Certified Elite dealers will also be guaranteed an allotment of “x amount” of EVs per year.
Dealers must decide which of the two certification levels they’d like to participate in by October 31st of this year. Those who want to hold out can wait until the second wave of Model e certification opens up in 2027. Those who do become part of the program will enjoy the exclusive benefits starting in January of 2024 and then onto December 2026.
Regardless of which certification a dealer chooses, five new pillars are set forth for any that wants to sell EVs. They include training, charging, eCommerce, physical experiences, and digital experiences. In that group, the eCommerce pillar includes a stipulation that dealers offer transparent non-negotiable pricing. To ensure that dealers are complying with that rule, Ford will conduct post-sale surveys with customers.
Here’s the only big problem with the plan. Dealers still set the final price and until Ford is willing and able to come down hard on those who gouge customers, markups will likely continue. Nevertheless, we’re excited to see these changes coming down the pipeline. Fiercer competition among automakers only makes for a better product in the end.
minimum of two DC fast chargers including one specifically for the public
Curious the intent on this one.
At least around here, dealer lots are closed & locked off hours. Would this indicate that one of these chargers would have to be outside of the secured lot area? Or just that it has to be available for use by the 'public' during business hours?
Here’s the only big problem with the plan. Dealers still set the final price and until Ford is willing and able to come down hard on those who gouge customers, markups will likely continue.
So this is pretty much meaningless lol.
The fast chargers can be anywhere. Around here, lots aren't really secured anyway. On top of that, access to certain parts of the service area is usually open all the time for after hours drop offs.
Not to mention that lots aren't all that full of cars these days anyway.
Ever since September 14th of this year when Ford explained to its dealerships what they would have to commit to in order to continue selling electric vehicles, the big question has been: How many dealers would agree to the terms? Now we know.
During an interview today at the Automotive News World Congress, Ford CEO Jim Farley, announced today that 1,920 of Ford's 2,968 US dealerships (~65%) agreed to become Model e certified dealers and accepted the strict terms that Ford laid out in order to continue selling fully electric vehicles.
That still leaves about one-third of its dealer network without the ability to sell a single fully electric Ford vehicle from January 1st, 2024 to at least January 1st, 2027. We suspect the vast majority of dealers that turned down the Model e offer are in rural areas of the US where electric vehicle adoption is lagging behind the rest of the country. They may not feel the pain immediately, but we can't help but speculate that many will regret that decision in 2025 and 2026 as electrification continues to proliferate across the industry.
Ford dropped the bombshell Model e certification requirements at its annual dealership meetings in September in Las Vegas. InsideEVs was one of only a handful of news outlets invited to get an early look at the new rules, which included a presentation from Ford CEO Jim Farley.
In short, Ford told its dealer network they had to invest, evolve, improve, and offer new services if they want to be a Model e dealership and continue to sell Ford's electric vehicles. Ford Model e is a new division that was created when Ford split the company into three arms: Ford Blue Oval, Ford Pro, and Ford Model e. All of Ford's fully electric vehicles now fall under the Model e umbrella, while plug-in hybrids and regular hybrids are part of Ford Blue Oval.
We reached out to a local Ford dealership, Maplecrest Ford in Mendham New Jersey to ask if they agreed to be a Model e dealership and was told that not only did they, but they did so enthusiastically:
We signed up to be a Model e dealership because it's the future of Ford Motor Company; the future for all car manufacturers, and we want to be part of that future. - David Vorcheimer, General Manager, Maplecrest Ford, Mendham, New JerseyAt the annual dealership meeting in September, Farley talked about Tesla and how the startup electric vehicle manufacturer has roughly a $2,000 price advantage over Ford. He said that Ford and its dealers need to, and have been, working to narrow that gap.
In order to remain competitive, Farley said that Ford needed to change the way it sells electric vehicles, and the first major step to that transformation was to create Ford Model e.
Three Options
Ford gave its dealers until October 31st – less than two months – to make a decision that would have huge implications for the future of the franchise. That deadline was later extended to December 2nd, as many dealers complained that six weeks wasn't enough time for such a major decision. The company offered its dealers three options:
Become a Model e Certified Elite dealership
Become a Model e Certified dealership
Discontinue selling Model e vehicles effective January 1st, 2024
Of the 1,920 franchises that agreed to become Model e dealers, 1,659 chose to be Certified Elite with full sales and service capability. 261 chose to be Certified with full-service capability, limited sales, and a lower investment cost.
Model e Requirements:
At a minimum, Model e Elite dealers will need to install two high-powered DC fast chargers and a level 2 charging station, as well as offer at least one DC fast charger available for the public to use. Ford estimates the all-in cost for dealers to become Model e certified elite to be between $1.0 and $1.2 million, with as much as 90% of the cost attributed to the cost to purchase and install the required charging infrastructure.
Model E Certified dealers are only required to install one DC fast charger, and it must be made available for public use. However, Model e dealers will have a hard cap on the number of EVs they are allowed to sell each year, and that number will be the same for all Model e shops, regardless of annual volume.
Ford told us that it hasn't decided exactly what that number will be, but it will be small and intended to only satisfy orders for the dealer's most loyal customers. Ford estimates the cost for dealers to become Model e certified will be about $500,000, again, with as much as 90% of the cost attributed to charging infrastructure.
We've been studying Tesla closely, especially with how their brand has scaled with units and operations in Norway and what we've noticed is that they have almost 1,200 employees now and they have very much dealer-like facilities and we think that's the direction they'll go as they scale their operations in the United States - Jim Farley, CEO, Ford Motor Company
EV Opt-Out
And finally, dealers have the option of not becoming Model e Certified at all. If they choose that route, they give up the right to sell any fully electric Ford vehicles for three years. At some point in 2025, they will have the opportunity to tell Ford that they wish to become a Model e certified or Elite-certified dealership, and provided they complete the requirements, they will be allowed to start selling EVs in January 2027.
If they do choose to opt out of becoming a Model e Certified dealer now, there will be no opportunity of becoming one until 2027. Therefore, from January 2024 through January 2027, the dealership will not be allowed to sell a single new all-electric Ford.
This first stage of Model e evolution will be in effect from January 1st, 2024, through December 31st, 2026. The decision dealerships make now will be in effect through 2026 and dealers cannot change their Model e certification status until January 1st, 2027. All dealers will continue to be able to sell EVs until January 1st, 2024 when the Model e rules begin.
Five Pillars
Ford explained that its Model e dealership strategy will be built upon five pillars:
Training: Dealers will need to undergo extensive EV training on an ongoing basis
Charging: Model e dealers must have adequate level 2 and DC fast charging, with at least one DC fast charger available to the public
Set Pricing: Transparent, non-negotiable pricing available online
Excellent physical experience: Model e dealers must deliver an excellent ownership experience, including complimentary pickup and drop off for vehicle service visits
Develop digital experience: Invest in building a digital ownership experience for the future
Having a DCFC available to the public at this many Ford dealers across the country is going to very much help the charging infrastructure. Looking forward to it.
They're pretty discrete & not sure what level they are, but my local dealer has 4 or 5 chargers in the lot across from the showroom.
Last couple times I was in there to get the Minibus serviced, they had a couple Lightnings plugged in.
Makes sense, especially with them not having any indication that they're there. I'm sure they'd allow customer use, if requested. Never seen more than 2 plugged in & think there were 4 or 5 chargers there.
They are almost certainly level 2 chargers, not fast chargers. Probably for keeping their own vehicles plugged in before the sale or during service.
Right in the article it says that the Model e dealers need to have at least one fast charger and Model e Elite level dealers need to have at least two.
Right in the article it says that the Model e dealers need to have at least one fast charger and Model e Elite level dealers need to have at least two.
I was referring to what 00TL mentioned about his local dealer, not the certification.
According to the latest J.D. Power Customer Service Index study, customers who use remote experiences for vehicle repair and maintenance are more likely to recommend their brand to a friend. Ford knows that and wants to capitalize on the trend to enhance the vehicle ownership experience by expanding its own pickup and delivery, as well as mobile services nationwide in the United States.
The automaker announces its expanded programs are voluntary for dealers and each participating dealer can set their own service and mileage limits for each type of remote experience. The Ford Service program is open to retail, fleet, commercial, and government customers.
There are two core components in the program that is now being expanded across the country. With Pickup & Delivery, customers can make an online appointment for light repairs and maintenance and Ford dealer will come to their home or business location to pick up the vehicle. Once the planned repairs have been completed, it will return the vehicle to the location.
With Mobile Service, customers can make appointments for similar types of operations, though a technician with a mobile service van will arrive at the location and perform the repair or maintenance at an eligible location of the customer’s choice.
“Customers who’ve experienced Pickup & Delivery and Mobile Service love the convenience and flexibility,” Todd Rabourn, North America Regional CX Director, explains. “This program increases the access customers have to remote service options, so whether you’re due for an oil change or need to resolve a recall, it’s easier to have your vehicle serviced with less disruption to your life, and the activities and people you care about.”
About a year ago, Lincoln – Ford’s luxury brand for the US market – launched the so-called Mobile Vehicle Spa. While initially limited only to Houston, the service offers full exterior and interior cleaning and detailing at the customer’s preferred location and schedule. Fuel fill-ups are also part of the program.
Ford posts full-year net loss, ugly fourth quarter as ‘execution issues’ plague operations
KEY POINTS
Ford Motor reported an ugly fourth quarter and a full-year net loss.
The automaker cited “execution issues” that plagued operations. It fell short of expected sales by 100,000 units.
The company is looking to cut additional costs this year and is not ruling out additional layoffs.
DETROIT – Ford Motor reported an ugly fourth quarter, missing Wall Street’s earnings expectations and falling short of its own full-year guidance by $1.1 billion, as the company reported “execution issues” that plagued operations.
Ford’s fourth-quarter net income was $1.3 billion, $11 billion lower than the same period a year earlier. For the full year, Ford lost $2 billion, nearly $20 billion off its 2021 profit.
... “Our cost structure is not competitive,” he said during a media call. “Our quality is not where it needs to be. And we will take the actions and be more aggressive about making sure that we’re making progress on both of those key areas for us in 2023.”
...
Lawler said Thursday that Ford’s EV business is not currently profitable. The company earlier this week cut costs of its top-selling electric Mustang Mach-E crossover in response to Tesla EV price cuts. Farley said higher EV margins will be unlocked with its next-generation vehicles, which are expected to begin production in 2025 at a new plant under construction in Tennessee.
Executives said Ford hoped to offset some of the near-term profit shrink with cost improvements thanks to the additional production as well as a reduction in some commodity costs.
So they're already losing money on every Mach-E they make, meanwhile Tesla had the highest margins in the industry, and to compete Ford is dropping the prices of the Mach-E to make it even more unprofitable. But don't worry they'll be profitable in 2-3 years. Meanwhile, Tesla is about to show off their Generation 3 manufacturing process to make their cars even cheaper to make. Ford can only hope keep up with Tesla's Gen 2 by 2025.
So you're saying that Ford would be in a better position if they had started investing heavily into EVs a decade ago? I agree. Another example of chasing short term profits for investors fucking the company long term. Maybe don't wait until the last second to start switching to EVs next time?
So you're saying that Ford would be in a better position if they had started investing heavily into EVs a decade ago? I agree. Another example of chasing short term profits for investors fucking the company long term. Maybe don't wait until the last second to start switching to EVs next time?
Tesla didn't turn a profit for nearly a decade. Sit down.
It'll be interesting to see Mach-E & Lightning sales numbers (if Ford breaks out the Lightning separately from F150 sales) over this year, with auto production ramping up.
I'm seeing a lot more transports on the road & the massive railyard near my drive home is very full again.
So you're saying that Ford would be in a better position if they had started investing heavily into EVs a decade ago? I agree. Another example of chasing short term profits for investors fucking the company long term. Maybe don't wait until the last second to start switching to EVs next time?
Obviously. But you can't gloat about it when it took Tesla 18 years to have their first profitable year (16 years from their first EV launch).
Obviously. But you can't gloat about it when it took Tesla 18 years to have their first profitable year (16 years from their first EV launch).
Find and replace "Rivian" with "Ford"
Originally Posted by #1 STUNNA
Because in 2008 Tesla was doing things that no one had done before, using thousands of laptop batteries to power a car, by the time Rivian did that it had already been done millions of times, it was proven tech. The EV parts suppliers were scarce, there was no shining example to look at and copy, and there weren't employees to hire with a decade of knowledge.
Rivian just hired former Tesla employees with lots of EV knowledge, according to Tesla also stole their IP (lawsuit pending), and Rivian can just copy Tesla's strategy and designs that Tesla figured out on their own, access a much more mature EV parts industry that was beefed up because of Tesla. Of course, Rivian has to execute well but they're standing on the shoulders of Tesla. They've got a massive head start compared to what Tesla had when they started.
03-09-2022 | 08:29 AM
