If you're an auto industry executive in 2024, there are three ways to do your job: actively fight against any sort of global electrified transition, bury your head in the sand and aim to retire fast enough for it to be someone else's problem, or actively face these challenges head-on. I give credit to Ford CEO Jim Farley for taking the third path. Ford hasn't always gotten the EV transformation right under Farley's watch.
'As the CEO of a major automaker, I feel compelled to tell customers the truth about electric vehicles amid all the disinformation and misunderstandings,' Farley wrote. 'It’s true that we are losing money on electric vehicles in the first innings of this transition, largely due to the upfront investment costs. But that too is changing.