However, CFO John Lawler said Ford will take years to close the cost disadvantage of $7-billion to $8-billion it has with its competitors
has identified measures to secure 8 per cent margins on its next-generation electric vehicles due at mid-decade, but could take years to close an overall cost disadvantage of up to $8-billion against competitors, executives said on Wednesday.
The company has “locked down” the designs of its new electric trucks and SUVs and aims to lower battery cell costs to less than $70 per kilowatt-hour as it phases in cheaper lithium iron phosphate chemistry, Chief Executive Jim Farley said. Lawler has said Ford faces $5-billion in higher costs this year and that the company will be “very aggressive” in reducing expenses in its manufacturing, supply chain and distribution operations.
Other gains will be made by introducing more efficient battery chemistries and reducing pack sizes, while shifting to more aerodynamic vehicle designs, the executives said.
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