Gas-powered cars like the Mustang are still crucial to our growth, says Ford

Gas-powered cars like the Mustang are still crucial to our growth, says Ford

There is no doubt that Ford believes in EV technology. It has launched the Mustang Mach-E and F-150 Lightning, and has committed to spending $50 billion in the coming years to invest in new electric vehicle factories and to update old factories to handle the shift away from internal combustion technology. But that shift is only a partial move as Ford claims sales of gas vehicles continue to be critical to growth.

Ford CEO Jim Farley recently split the company into an electric car business called Model e and an internal combustion division, Ford Blue. If you had the chance to jump behind one of these subs, you’d choose the Model e. The future is electric, right? It may be for some consumers, but Ford believes there is not only money to be made selling internal combustion cars, but probably more money than rivals because Ford is determined to continue offering ICE cars when rivals leave the market, which could potentially give Ford a larger market share. While GM has promised to sell only zero-emission vehicles by 2035, Ford has made no such promise.

Related: GM intends to stop selling gasoline cars by 2035, wants to be carbon neutral by 2040

Ford believes that Dodge abandoning the ICE provides an opportunity to increase market share

The new 2024 Mustang is a perfect illustration of Ford’s continued belief in gas cars at a time when the opposition is throwing everything behind electric vehicles. When the Mustang hits dealerships next summer, it won’t even offer mild hybrid technology with PHEV or all-electric variants, and a traditional muscle car V8 remains a central part of the engine lineup. But by the summer of 2023, the Dodge Challenger will be on its farewell tour, and it’s likely that the Chevrolet Camaro won’t waste much time following it.

“In this particular segment, in the Mustang, even though the segment may shrink, there is a lot of speculation that our competitors may leave this segment,” Ford Blue President Kumar Galhotra told CNN Business. “So even if the segment in the industry is shrinking, we can grow.”

Enthusiast cars such as the new Mustang and Bronco are just one of three focus areas for Ford’s combustion work, the others being SUVs and trucks. Galhotra admitted CNNtold its reporters that gas cars will eventually be phased out, but until that happens, Ford seems more than happy to indulge our lingering passion for ICE cars while satisfying other drivers’ desires to go electric.

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