Jim Farley, Ford CEO, reveals why the 2024 Mustang will remain gas-powered

Ford Motor Company President Bill Ford and President and CEO Jim Farley speak in front of the newly revealed Mustang Dark Horse in a stampede in downtown Detroit on September 14, 2022.

stronghold

Detroit – Ford Motor CEO Jim Farley was in place on Wednesday night, surrounded by gear heads and the automaker’s new 2024 Mustang models, including a surprising new high-performance version It is called the “black horse”.

There was no talk of electric cars or sustainability during The unveiling of the Auto Show in Detroit. Just the revving of the engines and the screeching of the tires, to the applause of the hundreds of Mustang owners present.

The scene unfolded in stark contrast To other recent events For Farley and Ford, which have promoted electric and green goals. That’s because despite the electric vehicle transition, the Mustang is sticking with gas-powered engines for its seventh generation vehicle in 2024.

That might come as a surprise, given Ford Plans to invest 50 billion dollars In the new electric vehicles in the coming years, as well as the expected plans of the Dodge Challenger and Chevrolet Camaro – the biggest rivals of the Mustang – to become electric.

So why is Ford sticking with the new car’s gas engines? Mainly, Farley said, because it can…and because it’s good for business for the foreseeable future.

the only survivor?

2024 Ford Mustang Dark Horse

Source: Ford

While the American muscle car segment is smaller than it used to be, there is still a demand for vehicles, which can also attract attention and new customers for their own brands.

While Ford invests in electric vehicles, Farley says the automaker will continue to invest in its traditional business. it’s a Part of the CEO’s new plan To increase sales across its conventional business, electric vehicles and commercial vehicles.

Bill Ford, president of Farley and Ford, declined to say whether the seventh-generation Mustang was expected to be the last gas-powered version of the car.

“If people don’t want them anymore, it’s going to go away, but I personally think people are going to want to have this car for a while,” Ford said, adding, “That day will come with tears in my eyes.”

Mach-E

Farley said that a big reason Ford continued with the gas-powered Mustang was, ironically, the car’s success Mustang Mac EThe all-electric crossover first went on sale in late 2020 and has already outpaced the gas-powered version within a few months.

The Mach-E, which has nothing in common with the gas-powered Mustang other than the name, has led to Ford becoming the second best-selling electric vehicle brand in the country.

This success of electric vehicles has given the automaker more flexibility to go ahead with gas-powered models, compared to competing automakers that have to chase electric vehicle sales and the regulatory emissions credits granted to them.

Automotive companies are in demand You have a certain amount of organizational credits every year. If the company can’t hit the target, it can buy credits from other companies, like Tesla, that have excess credits.

“Making the Mustang Mac-E somehow, he let this car happen,” Farley said. “Competitors are buying emissions credits, and they can’t come up with this type of vehicle.”

US President Joe Biden stands next to a Ford Mustang Mach-E (electric) during a visit to the Detroit Auto Show, highlighting America’s electric car industry, in Detroit, Michigan, September 14, 2022.

Kevin Lamarck | Reuters

Dodge said such emissions regulations are among the reasons it should end production of its gas-powered Charger and Challenger at the end of next year. Chevrolet is expected to end production of the gas-powered Chevrolet Camaro in the coming years as part of ‘General Engines’ It plans to offer electric vehicles exclusively by 2035.

Dodge spokesperson, a division of Stilantsin its announcement of electric muscle cars, the company is “celebrating the end of an era — and the beginning of a bright new electrified future.”

A Chevrolet spokesperson said the company does not comment on future production, but added, “The Camaro continues to play an important role in Chevrolet’s lineup of high-performance vehicles and remains a highly sought-after vehicle that our customers love.”

Ford’s biggest crosstown competitor, GM, which is in the process of Sunset on their gas-powered productsaiming to better compete against her TeslaElectric Vehicle Sales Leader.

Meanwhile, Farley said he wants to grow his traditional business with “open products” that attract discussion and interest like the 2024 Mustang, including the new “Dark Horse” variant.

“I had a T-shirt at the dealership that said ‘Ford versus everyone.’ That’s kind of our attitude,” Farley said. “We want to be a black horse. We are a dark horse against Tesla in the electric vehicle field. We want to introduce a new game.”

Dodge to stop gas-powered muscle cars next year
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