Summary
- Ford is offering free home chargers and installation to buyers of EVs until the end of the year
- The company is focusing on improving access to chargers and addressing concerns around price and battery range to boost EV demand
- The free charger benefit applies to customers who buy certain Ford EV models between October 1 and year-end
- Ford’s CEO Jim Farley and his team realized the importance of reliable home charging solutions after embarking on EV road trips
- Ford is working to contain the cost of the program within its existing financials and has plans to make its vehicles compatible with Tesla’s nationwide supercharger network starting in 2025.
Article
Ford is making a push to appeal to those interested in electric vehicles by offering free home chargers and installation to buyers of their EVs until the end of the year. As the demand for electric vehicles continues to lag, automakers are focusing on improving charger access, addressing concerns about price and battery range. Ford CEO Jim Farley highlighted the challenge of charging as a major obstacle to EV adoption and emphasized the importance of reliable and consistent home charging solutions. This initiative applies to customers purchasing or leasing select Ford EV models from October 1 to year-end.
Farley’s decision to offer free home chargers and installation was influenced by his experiences on two EV road trips across Europe and the Western U.S. He recognized the need for a reliable charging infrastructure, particularly at home. While Ford has not disclosed the cost of the program, Marin Gjaja, chief operating officer of Ford’s electric division, stated that they expect to manage the expenses within their current financials. This move comes at a critical time for Ford as they strive to reduce costs on their electric models and address a projected $5 billion loss in the electric unit this year.
Ford’s decision to cancel a three-row electric SUV in August to cut spending could result in approximately $1.9 billion in near-term costs for the automaker. Despite these challenges, Ford has seen an increase in sales of electric vehicles, with about 44,000 units sold in the first half of 2024, marking a 72% increase from the previous year. This positions Ford as the second-largest EV seller in the United States, trailing behind Tesla, which delivered around 831,000 vehicles during the same period. In a strategic move, Ford became the first major automaker to collaborate with Tesla on their supercharger network, allowing Ford vehicles to use compatible charging ports at Tesla stations starting in 2025.
Customers who purchase a Ford EV in the fourth quarter and already have a home charger or live in an apartment will have the option to receive a $2,000 cash equivalent from dealers. This incentive adds flexibility for customers who may not require a new home charger but still want to benefit from the promotion. Ford’s efforts to expand access to charging solutions and incentivize EV adoption reflect the company’s commitment to increasing the appeal of electric vehicles to a broader consumer base. By addressing key challenges such as charging infrastructure and cost barriers, Ford aims to drive growth in their electric vehicle sales and contribute to the transition towards more sustainable transportation options.
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