Ford’s EV sales nearly doubled in 2022, competing with Tesla to be the electric market leader.
Key Details
- Ford sold 61,575 EVs last year, marking a jump of 126% as it tries to become the leader in electric sales.
- EVs were only 3.3% of Ford’s sales in 2023, but the company plans to push the electric cars by producing 2 million by the end of 2026.
- The company is in second place in EV sales, falling behind the pioneer Tesla with 1.3 million EV sales last year.
Why it’s news
Tesla is the number-one EV seller in the world and has opened the door for many automakers to develop EVs.
Since Tesla has become more popular, many automakers are rushing to create the next best EV—including Ford, who has set out to compete with Tesla to be the number-one EV maker.
Ford is making way by selling 61,575 EVs last year marking a jump of 126%. Although Ford is moving into Tesla’s market share, it still has a long way to go to reach the top, considering Tesla holds 65% of the market in the U.S., according to data from S&P Global Mobility, down from 71%.
Ford has the best-selling electric truck on the market, selling 15,617 electric versions of its famous F-150 since the truck went on sale in May.
The company plans to continue creating electric vehicles and competing with Elon Musk’s Tesla brand hoping to be the top seller in the market.
