Ford CEO Mark Fields said the Dearborn automaker will not be left behind in the race to develop long-range electric vehicles like the Tesla Model 3 and Chevrolet Bolt that can go 320 km (200 miles) or more on a single charge.
“We want to make sure that we’re either among the leaders or in a leadership position,” Fields said during a conference call Thursday with analysts. “When you look at some of the competitors and what they’ve announced, clearly, that’s something we’re developing for.”
The Chevrolet Bolt will have a range of at least 320 km and a starting price of about $27,000 when it goes on sale later this year.
Tesla CEO Elon Musk generated global buzz when he unveiled the Tesla Model 3 earlier this month. That car is expected to have 345 km (215 miles) of range and will go on sale in late 2017 at a starting price of $35,000.
Earlier this month, Automotive News reported that the automaker was satisfied with its 2017 Focus Electric that will get 160 km (100 miles) on a full charge, saying that vehicle will satisfy a large chunk of consumers.
Fields didn’t say when Ford plans to launch a vehicle to match Tesla's Model 3 or the Chevrolet Bolt, but made it clear Ford is pressing forward.
He did reiterate Ford's plans to spend $4.5 billion over the next four years to develop 13 new hybrid or electric vehicles.
"Our approach, very simply, is to make sure we are among the leaders or in a leadership position in the product segments that we are in," Fields said.
Ford Motor Company are collaborating with Xerox PARC and Oak Ridge National Laboratory to develop pouch cells with a 20% improvement in gravimetric energy density (Wh/kg), and a 30% reduction in $/kWh costs for electric vehciles.
