Ford Plans to Challenge Tesla to Become Top EV Maker in the World: CEO

Photo: Jim Farley

Ford CEO Jim Farley took the stage on Tuesday at a launch event for the F-150 Lightning, the veteran automaker’s first-ever all-electric pickup truck.

Farley also touched upon Ford’s future during the event, reiterating that the company plans to produce 2 million electric vehicles (EVs) per year by 2026 and eventually challenge Tesla for the top EV maker crown.

“We have every intention of being the number one electric pickup maker,” said Farley. “And then, with the huge investments — $50 billion USD in EVs, battery manufacturing, our expanded lineup which you have not seen yet, we plan to challenge Tesla and all comers to become the top EV maker in the world.”

The F-150 Lightning has now entered active production at Ford’s historic Rouge Complex in Michigan, where the company has established a moving assembly line. Tesla’s all-electric pickup, the Cybertruck, meanwhile isn’t expected to start production until 2023.

Farley has often talked of plans to overthrow Tesla as the world’s foremost manufacturer of EVs, propped up on Ford’s $50 billion investment in EV production, development, and battery technology, along with hopes of quickly ramping up output.

Ford has a long way to go, though. Tesla dominated U.S. EV sales during Q1 2022 with a 75% share of the market. The all-electric pioneer sold 46,707 units of the Model 3, its second best-selling EV, between January and March, while Ford was only able to move 6,734 Mustang Mach-Es.

Watch Ford’s full F-150 Lightning launch event below: