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Ford CEO Jim Farley He told the brand’s dealers Tuesday in Las Vegas that they are either in or out when it comes to selling electric vehicles.
Farley has unveiled a new plan that requires dealers to become certified to sell all-electric vehicles that come with several fixed terms.
Two tiers are offered, with the highest Elite requiring an investment of up to $1.2 million to install two to three fast charging stations in each store, while the Standard certification requires only one, according to Automotive News.
Ford confirmed the details of the report to Fox Business.
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Ford CEO James Farley, seen here during the launch of the all-electric Ford F-150 Lightning truck in April, told dealers they would need to agree to certain requirements in order to be able to sell Ford electric models. (Emily Elkonen/Bloomberg via Getty Images/Getty Images)
Elite dealers will be allowed to carry the electric vehicle inventory and have demo units, while the rest will only be able to place orders.
Both must agree to sell their cars at non-negotiable prices that will be listed on Ford’s sales portal, although it will still allow them to set those prices as they like.
Traders have until October 31 to decide whether to participate in the program, which begins on January 1, 2024, and runs through the end of 2026. Another sign-up window will open in 2027.
Farley said Ford will continue to invest aggressively in internal combustion engine models. (Bill Bogliano/Getty Images/Getty Images)
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Ford in March split the company into Ford’s blue division, focusing on internal combustion engines and hybrid cars, and Ford Model H Fully electrical section.
“We don’t want to push traders to become an e-trader ahead of their markets or be ready for it,” Farley said.
“We want people to take these standards, which can be useful in their implementation,” he said. “It wouldn’t be good for traders or the company if people took these criteria and didn’t get a return on their investment. We’re not so enthusiastic or dogmatic that we want a certain number of people to take that we’re going to look beyond the financial viability of it. That would be a really bad move for them. Our “.
The Ford F-150 Lightning is the brand’s first electric pickup truck. (Ford/Fox News)
Farley told FOX Business Tuesday that while the company is adding pure electric vehicles, it will continue to invest aggressively in internal combustion engines (ICE) and hybrid models such as the Ford F-150, Bronco and Mustang.
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“We invest in ICE sectors where we dominate and where we think, when competitors leave the sectors, we can actually grow,” Farley said.
“Not all sectors will be powered at the same time, and some may never be powered.”
General Motors, which has committed to going all-electric in the United States by 2035, has offered buyouts to Cadillac and Buick dealers who don’t want to invest in the infrastructure needed to sell and maintain electric vehicles.
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