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- Ford increased its Mach-E stock after signing a deal with Tesla to give owners of the car access to charging.
- Ford has tripled the advertised inventory for its Mach-E electric SUV, to 11,000 total cars. This is according to S&P Global Mobility.
- Experts believe this is an indication that Ford is confident about the partnership with Tesla boosting demand.
Ford has aggressively increased its Mustang Mach-E electric vehicle stock after signing an innovative deal with Elon Musk that gives its customers access Tesla charging stations.
Ford announced in May its customers will have access to over 12,000 Tesla Superchargers beginning next spring. It also pledged to incorporate Tesla's charging technology into its own EVs.
Ford tripled the advertised inventory of its Mach-E electric SUV in the weeks that followed, to 11,000 total cars, according to S&P Global Mobility's analysis, published this week.
S&P Global Mobility reports that less than 3,000 Mach Es were sold each month in 2018. The vehicle only reached 5,000 units once since its launch at the end of 2020. Insider's comment request was not immediately answered by a Ford spokesperson.
Ford could be feeling confident about the benefits it can get by giving its customers Tesla's charging network, a long-standing advantage.
Ford could be boosting Mach-E stock to "maximize the marketing impact" of its shared charger arrangement with Tesla, according to a note from S&P Global Mobility. This could be a sign Ford is entering the EV race and gaining market share.
Ford had already planned to increase Mach-E production this year in order to lower prices and reduce the wait time for customers.
Ford's commitment to Tesla prompted other automakers and charging companies to promise that they would follow suit. GM and Rivian quickly responded to the announcement with their own versions of partnership. Several charging companies also pledged to adopt Tesla’s North American Charging Standards port.
Experts believe that Tesla will now be able to monetize its collaborations in a big way. Ford and the other automakers that are collaborating with Tesla could benefit most.
Public EV charging, aside from the Supercharger Network, has left much to desire and is often a barrier for widespread adoption of electric cars. Some of the issues include charging reliability, price challenges, and a general lack of locations.
Elon Musk intends to continue expanding the Tesla charging network to make it accessible to those who do not own a Tesla.
It's easy to convince other automakers of the benefits of adopting Tesla technology. This could encourage a wider adoption.
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By: astjohn@insider.com (Alexa St. John)
Title: Ford apparently expected a stampede of customers after its Tesla deal, and tripled its stock of Mustang Mach-Es in a single month
Sourced From: www.businessinsider.com/ford-mustang-mach-e-inventory-after-tesla-charging-deal-2023-6
Published Date: Thu, 22 Jun 2023 15:25:10 +0000
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