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Search resuls for: "Darren Palmer"


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☆ Biden is lending billions to Ford to help America win the EV race with China
  + stars: | 2023-06-23 | by ( Ryan Hogg | ) www.businessinsider.com   time to read: +3 min
The US is lending Ford $9.2 billion to build battery plants in Tennessee and Kentucky. It's also three times the loan extended to General Motors for battery plants last year. The US government is lending $9.2 billion to Ford for three battery plants in a sign of the Biden administration's desire for America to become a leading EV player. The loan is more than three times the amount handed out last year to General Motors to build three battery factories. The loan is the latest step by the White House to on-shore production of crucial EV components amid rising geopolitical tensions, particularly with China.
Persons: It's, Biden, Obama, EVs, Ford's, Darren Palmer Organizations: Ford, Loan, General Motors, Energy's, SK, The Energy Department, Tesla, EV, White, P, EVs, Ford's EV Locations: Tennessee, Kentucky, America, Korean, China, Chinese
☆ Ford boosts production of Mach-E and drops prices to compete with Tesla
  + stars: | 2023-01-30 | by ( Peter Valdes-Dapena | ) edition.cnn.com   time to read: +3 min
CNN —Ford is boosting production of its popular Mustang Mach-E electric SUV and dropping its sticker price weeks after Tesla dropped prices of its vehicles. it has since been joined in the electric Ford lineup by the workhorse Ford F-150 Lightning. Tesla announced price cuts of as much as 20% on its electric vehicles earlier this month, after raising prices in 2022. Ford announced last summer that it was increasing production of the Mach-E as it added capacity for more battery production. Customers who complete the transaction for their Mach-E after today’s announcement will pay the new lower price, Ford said.
☆ Electric vehicle sales hit a tipping point in 2022
  + stars: | 2022-12-27 | by ( Peter Valdes-Dapena | ) edition.cnn.com   time to read: +6 min
Bloomberg includes plug-in hybrids in its count of “electric vehicles,” but a large majority are purely battery-powered models. It’s unclear exactly why 5% seems to mark the point where EV sales really take off. The Mustang Mach-E, which hit the market in in 2021, was the first electric vehicle to take a notable chunk of Tesla’s still-dominant EV market share. The act, passed this year, changes the rules around which electric vehicles are eligible for consumer tax credits. Given their popularity and already high sales, incentive rules could help push EV sales significantly higher.
☆ Ford F-150 Lightning named MotorTrend Truck of the Year, the second electric pickup in a row
  + stars: | 2022-12-13 | by ( Peter Valdes-Dapena | ) edition.cnn.com   time to read: +4 min
CNN —The Ford F-150 Lightning was named MotorTrend’s 2023 Truck of the Year on Tuesday, making it the second electric pickup in a row to win that award. MotorTrend’s panel of judges lauded the F-150 Lightning as “the best-riding, best-handling, and best-driving F-150 yet.” Unlike other versions of the F-150, the Lightning has independent rear suspension instead of a solid axle connecting the back wheels. It’s also another sign that electric power is making its mark among America’s most popular type of vehicle. The Ford F-150 Lightning has a large storage area under the hood instead of a gas engine. The F-150 Lightning was a unanimous winner among the MotorTrend’s seven jurists.
☆ Orders for the electric F-150 were so strong that Ford started building another factory next door to boost production
  + stars: | 2022-12-04 | by ( Ryan Hogg | ) www.businessinsider.com   time to read: +4 min
Ford had to literally tear down the walls of its factory to cope with demand for the electric F-150. "That surprised us – I think it surprised a lot in the industry, how ready people already were for electric vehicles," says Darren Palmer, who heads up Ford's electric vehicle (EV) program. Darren Palmer speaks with customers in front of a Ford F-150 Lightning. Despite recently committing $50 billion to its EV program over the next four years, the success of an electric F-150 was never certain. The 2022 Ford F-150 Lightning Lariat.
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