Tesla CEO Elon Musk lately supported Ford, a supposed rival, by complimenting the all-electric F-150 Lightning and the legacy automaker’s electrical automobile (EV) technique. Musk’s assist highlights Tesla’s final objective for the auto trade.
Musk replied to a tweet by @realMeetKevin, which in contrast Ford’s web EV revenue and projected web EV revenue to Tesla’s web margin. Meet Kevin famous that Ford’s web EV revenue is -40%, and its projected web EV revenue was additionally damaging. The Twitter person complimented Elon Musk and the Tesla staff for reaching a optimistic web margin.
Ford introduced a brand new $1.5-$2 billion restructuring plan to succeed in EV profitability. Ford plans to exit unprofitable areas, minimize its headcount, and set up a brand new staffing construction to cut back prices and enhance output as a part of its restructuring efforts.
“All the time robust with margins for brand new automobile strains, particularly when there are main know-how shifts,” Musk defined to Meet Kevin. “I believe Ford’s general technique with EVs is wise. The electrical F-150 (Lightning) has excessive demand.”
Ford CEO Jim Farley lately commented on Elon Musk and Tesla’s value minimize technique, noting that Musk’s ‘aggressive’ pricing technique may be impressed by Henry Ford and the Mannequin T. Farley echoed Morgan Stanley analyst Adam Jonas’ query in the course of the TSLA Q1 2023 earnings name.
Musk’s latest present of assist for Ford and his praise for the F-150 Lightning means that Tesla isn’t nervous concerning the competitors and stays targeted on its final objective: a sustainable vitality economic system.
Over the last earnings name, Elon Musk emphasised that Tesla doesn’t actively attempt to “destroy” its rivals.
“Actually, we would like all EVs to succeed too. We simply need to say that. We’re not launching malicious assaults to attempt to crush others. Undoubtedly not. We’re opening up Superchargers. We’ve made our patents obtainable totally free,” Musk acknowledged. “We’re attempting to be useful right here. We’re not out to destroy rivals or something like that. We’re attempting to assist rivals, frankly, in any approach that we are able to,” he defined.