Sep 16, 2020 (IAM Newswire via COMTEX) -- Ford Motor Company /zigman2/quotes/208911460/composite F +0.11% is stepping up its EV game with its third EV series-production of Mustang Mach-E electric crossover. This model has a challenging task considering that Focus Electric and Ranger EV didn't sell well nor came close to Tesla's /zigman2/quotes/203558040/composite TSLA +2.05% success. The legendary company plans to go all in with the all-electric F-150 which is expected to move the needle of its overall truck sales. Last year alone, Ford sold 900,000 of US' favorite pickup. This pickup alone brought in over $40 billion of revenue.
Believe it or not, Volkswagen /zigman2/quotes/204431732/delayed VWAGY -2.34% ID.3 with a different body shell and a slightly redesigned cockpit will have the Blue Oval logo on it. The unlikely partnership was enabled due to Volkswagen needing Ranger's platform, allowing Ford to use its ID.3 platform in exchange. This collaboration is a big deal as Ford expects to sell 600,000 electric vehicles on the German automaker's EV architecture in the six-year period starting in 2023.
The Blue Oval has high expectations because it is looking at the bigger picture. The near future will be even harder for ICEs as European countries are set to adopt a 95-gram fleet average target for CO2 emissions next year. Norway is the leader in banning the sale of ICE vehicles by setting its target for 2025. Iceland and Sweden will follow half a decade later, with United Kingdom by 2035 the latest, and France by 2040. It’s good for Ford to dip its toes in European waters.
Ford is also stepping up its fight against Toyota /zigman2/quotes/200537742/composite TM -0.81% Tacoma to win over both off-roading fans as well as those drivers commuting to work with the all-new 2021 Ranger Tremor off-road package. This model aims to enhance the look and feel of the midsize pickup.
Greater EV adoption is nice in theory, but European countries that declared war on gasoline and diesel should be aware that for this all-electric future to be realized, they need an adequate infrastructure. This means increasing the number of charging stations, decreasing charging times and trimming battery costs. But step by step and little by little, the inevitable is certain to happen to the detriment of fossil fuels.
As for Ford, it is disappointing its shareholders with its poor operational execution. Additionally, its stock has seen historically low values during the pandemic. It recorded lowest levels in over a decade. But if it can control its costs and improve its product quality, it may have multiple successful products in 2021 with the Mustang Mach-E, the F-150 EV, and the Bronco. After the reveal of all-new 2021 Ford Bronco and 2021 Ford Bronco Sport, the stock grew for four consecutive weeks. Most importantly, the Mustang Mach-E demonstrates that Ford isn't afraid to redefine legendary nameplates and recreate them in new body styles and as new vehicle types. Ford's strength lies in revivals as it adapts them to the electric era.
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