Ford nonetheless has excessive ambitions for its electrical car initiatives regardless of slashing battery manufacturing amid slowing EV gross sales final 12 months. Ford’s Tesla-envying CEO Jim Farley said throughout an earnings name yesterday {that a} new low-cost EV platform was within the works, aiming to compete instantly with the Elon Musk-led automaker when it comes to sticker worth. Farley additionally added that Ford’s next-generation EVs “can be worthwhile within the first 12 months of their launch.”

Whereas I respect the optimism, it’s tough to see how Ford may presumably generate a revenue with a brand new inexpensive EV platform. None of Ford’s present electrical autos have been worthwhile regardless of being the costliest fashions they promote, based on Motor1.com. To generate the gross sales quantity essential to be worthwhile inside a 12 months, Ford’s potential Mannequin three killers must be generation-defining autos, akin to the Mannequin T.

Farley outlined how Ford expects to satisfy these wild targets throughout the earnings name:

“We developed a super-talented skunkworks workforce to create a low-cost EV platform. It was a small group, small workforce, among the finest EV engineers on the planet, and it was separate from the Ford mothership.”

“They’ve developed a versatile platform that won’t solely deploy to a number of kinds of autos however can be a big put in base for software program and providers that we’re now seeing at Professional.”

It isn’t clear what the sort of car can be first second-generation Ford EV, however Farley highlighted the market development for two-row crossovers. The venerable automaker has plenty of floor to cowl to satisfy its lofty expectations after 400 sellers deserted its EV program final 12 months. An inexpensive electrical Ford crossover may very well be transformative, however the Blue Oval must ship the promised mannequin to showrooms first. Not like Elon, Farley has a protracted profession in constructing vehicles already. That’s to not point out Ford’s shareholders and a board, which he must reply to if the gambit falls flat on its face.