Is Ford Motor (F) the New Tesla (TSLA)?

More than a year has passed since an announcement on April 26, 2022, by Ford Motor Company (F) CEO Jim Farley, regarding the company’s intent to challenge Tesla, Inc. (T) as the global EV leader. Since then, the Detroit automaker has made huge strides in the electric mobility space. It has pipped TSLA to the pickup segment by beginning […] June 05, 2023 [Option Sensei] [Is Ford Motor (F) the New Tesla (TSLA)?]( More than a year has passed since an announcement on April 26, 2022, by [Ford Motor Company (F)Â]( Jim Farley, regarding the company’s intent to challenge [Tesla, Inc. (T)Â]( the global EV leader. Since then, the Detroit automaker has made huge strides in the electric mobility space. It has pipped TSLA to the pickup segment by beginning production of its F-150 Lightning and benchmarked the Model Y for its Mustang Mach-E crossover. While TSLA is still the runaway leader, F notched 61,575 fully-electric vehicle sales to emerge as the challenger in the U.S., something the legacy automaker planned to achieve by mid-decade. Since both rivals are expected to battle it out for a greater share of the electric-mobility pie, it is understandable why an unexpected announcement by the CEO of both companies to join hands to enlarge the pie took the industry and markets by pleasant surprise. On Thursday, May 25, during a live audio discussion on Twitter Spaces, Jim Farley and Elon Musk announced an agreement on charging initiatives for Ford’s current and future electric vehicles. Under the agreement, current Ford owners will be granted access to more than 12,000 Tesla Superchargers across the U.S. and Canada starting early next year. Moreover, the next generation of Ford EVs, expected by mid-decade, will include TSLA’s charging plug, enabling owners to charge their vehicles at Tesla Superchargers without an adapter while using Ford’s software. A separate Ford spokesman later added that pricing for charging “will be competitive in the marketplace.” The companies will disclose further details closer to a launch date, anticipated in 2024. Following this announcement, which makes F among the first automakers to explicitly tie into the TSLA network, the former’s stock rose by 6.2% on May 26, closing at $12.09 per share, while the latter’s shares also climbed by 4.7%, ending the week at $193.17. In this article, we elaborate on why the optimism makes sense. Firstly, as F is ramping up its production to double its EV capacity this year and looks on course to get to two million in a couple of years, with public charging of electric vehicles being a major concern for potential buyers, charging infrastructure is going to be critical for the company in order to ensure that it delivers a superior after-purchase experience to its customers. TSLA is the only automaker that has successfully built out its own network of fast chargers, which gives the EV leader an edge over its competitors, whose partnerships with third-party companies have left much room for… Continue reading at [INO.com]( SPONSOR [Overheard at Apple's Secret Meeting...]( A thousand people attended... NO CAMERAS were allowed! One invitee said every iPhone was wrapped with "tamper-proof stickers" to prevent photographs. At the event, Apple unveiled a device that "could eventually replace mobile phones." Apple codenamed the device "N421" ... But I call it "iPhone Killer." To see how you could potentially profit from iPhone Killer... [Click here before April 26 >>]( Copyright © 2023 Wealthpop | All rights reserved. Magnifi Communities, 1 Penn Plaza, Suite 3910, New York, NY 10119 [Contact]( / [Terms & Conditions]( [Click here to unsubscribe](