Lincoln Dealers Need Extra $900,000 in Upgrades to Sell EVs, Says Ford
The top Lincoln dealerships will need to invest more money up front if they want to sell electric vehicles, says Ford.
Ford said Lincoln dealerships hoping to sell electric vehicles (EVs) are facing an extra $900,000 bill, largely dedicated toward installing chargers (via Automotive News).
The company is requiring Lincoln dealerships to invest around four times the amount that Cadillac, the Ford subsidiary’s closest rival, is asking retailers to spend.
In addition to public-facing chargers, Lincoln will use the funding to support in-house sales and service needs for the upcoming EVs.
How Will Ford’s Lincoln Differentiate Itself in Transition to EVs? https://t.co/G0JtHQUFKt
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Executives from Lincoln say the company needs to start now in preparing to attract younger buyers to the luxury market.
“We’ve got to keep evolving,” said Michael Sprague, Director of Lincoln’s North American arm. “We need to make sure over the next couple of years, as we’re preparing for that EV future, that we’re ready when those clients start to come into the market.”
Lincoln’s first EV concept isn’t set to hit the market for a few years, though the company plans to unveil three new EVs by 2025.
In earlier announcements, Lincoln has said it plans to launch five all-electric SUVs by 2026, just months after Ford delayed the Lincoln Aviator to help increase Mach-E production.
In recent weeks, the price of the Ford F-150 Lightning jumped 11 percent by around $5,000.