The prices of lithium batteries are rising and so is the price of the raw materials. There’s no way to reverse the current downward trend in electric prices. Ford CEO Jim Farley believes such a time is coming. Electric cars with a price tag of 25 000 dollars could be on the market in the next few years. Automakers will be in a price war over the new generation of electric vehicles.
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Ford Motor CEO, says that the industry is moving towards a major price war. There are no prerequisites for the industry’s initial start. Ford must spend at minimum 18% after paying $45,000 to purchase electric Mustang Mach-E vehicles. According to Ford’s CEO, savings can be made by not only lowering the cost of batteries but also improving the manufacturing process of the entire platform. The next generation of vehicles is designed to lower production costs and save money.
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Farley didn’t specify his plans for producing electric vehicles in the amount of 25,000 dollars. However, other industry representatives have expressed similar intentions. Farley, the world’s second largest automaker, hopes to surpass Tesla in terms of the number sold. Tesla is currently considering a compact electric vehicle for 25,000 USD, but the company is limited by the need to produce more models at a higher cost on the assembly line.
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