Ford CEO Jim Farley addressed a critical issue in the electric vehicle (EV) industry, emphasizing that consumers’ concerns aren’t primarily related to range anxiety but rather what he termed “charging anxiety.” In a recent interview on Fox Business, Farley highlighted this distinction, shedding light on Ford’s strategy to tackle this issue.
Farley stated, “They don’t have range anxiety, they have charging anxiety. We’re going into the mass consumers who have a lot of charging anxiety.”
This perspective emerged in response to Secretary of Energy Jennifer Granholm’s eventful 600-mile EV journey from Charlotte, North Carolina, to Memphis, Tennessee, using legacy automaker electric vehicles. Granholm’s trip faced challenges, particularly in charging-related aspects.
During her journey, an unintended incident of ICEing occurred, where internal combustion engine (ICE) vehicles parked at and blocked EV chargers intended for Granholm’s EV fleet. This situation escalated when a family, needing a charge to keep their baby’s car cool, called the police, creating a stressful moment.
Ford acknowledges that addressing “charging anxiety” is essential to expanding its EV market share. Farley acknowledged that, from Ford’s perspective, EVs are currently targeted at a niche customer base. One contributing factor is the premium pricing associated with EVs, which deters many potential buyers.
Farley mentioned, “Some customers who have the right duty cycle are really interested, but the price premium that we see a year ago is not there today.”
To mitigate this issue, Ford has taken the innovative step of partnering with Tesla and committing to use Tesla’s North American Charging Standard (NACS) connector. This collaboration grants Ford EV drivers access to Tesla’s extensive network of 12,000 Superchargers across the United States.
However, Ford intends to maintain a diverse lineup, acknowledging that not every consumer is ready to transition to electric vehicles. Farley emphasized, “We’re going to offer customers a choice… The F-150 Lightning is the best-selling electric pickup in the U.S., and for those customers, it works great, but it’s not for everyone.”
Ford’s recent move to triple its production capacity for the F-150 Lightning, the best-selling EV pickup in the U.S., reflects the company’s commitment to a multifaceted approach in the evolving EV market.